Methanol Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak trend for this week. By the end of the week prices were assessed around Rs 28.25/Kg for Kandla and Rs 28.25/kg Mumbai ports.

Total Imports from January to December 2017

Above graph represents the total imported quantity of Methanol from January to December. As per graph in 2017 Total imported quantity was around 2192793MT. In the month of October higher quantity has been imported while in January, imports were lesser.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak trend and by the end of the week prices were evaluated at Rs 2.25/kg for Kandla and Rs 28.25/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 359/MTS. Prices have decreased sharply by USD 8/mt in compares to previous week.
• This week methanol prices have plunged on bearish demand sentiments from end users.
• This week methanol market has remained soft on account of upcoming Lunar New Year holiday in China.
• The price of domestic materials in East China plunging in Feb, while imported materials halted the downtrend and stabilized gradually.
• Chemanol has shut down its Saudia Arabia based Methanol plant. The unit has been shut down for annual maintenance. The unit will remain close for three weeks and is expected to resume its production on 1st March 2018. Unit is based at Al Jubail in Saudi Arabia and has the manufacturing capacity of Methanol around 2,33,000 tonnes/year.
• CFR China prices of methanol were evaluated at USD 386/mt.
• FOB Korea prices of Methanol were evaluated USD 425/mt.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.

$1 = Rs. 64.40
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.85