Methanol Weekly Report 10 January 2020

Weekly Price Trend: 06-01-2020 to 10-01-2020

• The above graph focuses on the Methanol price trend for the current week. Prices remained firm throughout this week. Domestic prices were assessed at the level of Rs.23.5/Kg for bulk quantity by end of the week.
• By the end of the week prices were assessed around Rs 4.75/Kg for Kandla and Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have remained firm and stable throughout this week. There has been improvement in the demand sentiments. Prices in the domestic market were assessed at the level of Rs.23.5/Kg for bulk quantity.
• CFR India prices were assessed around USD 230/MTS, a huge rise of USD22/MT for this week. This huge rise has been in particularly due to rise of tension between Iran and US.
• CFR China prices were assessed around USD 221-241/MT, with an increase of USD 10/MT for this week.
• Benzene the major source for aromatic products also remained variable this week. FOB Korea values for Benzene were assessed around USD 715/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
• The market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran.
• There was initial fall in the prices on Wednesday, prices were seen some rise on Thursday. During European trading hours Iranian media carried reports of military commanders speaking of further action aimed at expelling U.S. troops from the region.
• With growing geopolitical tensions appear to enter a new equilibrium, the overall supply conditions in the market tend to favor oil reverting lower.
• On Thursday closing crude values have decreased. WTI on NYME closed at $59.56/bbl. Prices have decreased by 0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.07/bbl in compare to last closing price and was assessed around $65.37/bbl.

$1 = Rs. 70.93

Import Custom Ex. Rate USD/ INR: 72.15

Export Custom Ex. Rate USD/ INR: 70.45