Methanol Weekly Report 10 June 2017

Weekly Price Trend: 05-06-2017 to 09-06-2017

The above graph focuses on the Methanol price trend for the current week. Prices have followed volatile inclination for this week. By the end of the week prices were assessed around Rs.18.5/Kg for Kandla and Rs 18.5/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed volatile inclination and by the end of the week prices were evaluated at Rs 18.5/kg for Kandla and Rs 18.5/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 239-259/MTS. Prices have increased by USD 10/mt in compares to previous week.

• FOB Korea prices of methanol were evaluated around at the level of USD 269/mt.

• CFR China prices were assessed in the range of USD 251-271/MT prices have remained firm in compares to previous week.
• This week methanol market have followed volatile trend and week has closed on firm note.
• As per report, US April methanol imports rise, exports decline.
• Methanol spot prices in the US in April tracked lower following China spot levels.
• As per market report, Iran’s Zagros Petrochemical plans methanol plant restart in few days.
• This week crude oil prices followed volatile trend with downward velocity. On Thursday oil prices fell due to an unexpected surge in U.S. inventories from signs of rising output in Libya and Nigeria to the crude market, as two OPEC members exempt from production cuts.
• WTI on NYME closed at $45.64/bbl, prices have decreased by $0.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.20/bbl in compared to last trading and was assessed around $47.86/bbl. On Friday oil prices stabilized due to steep falls earlier this week, but still pressured by evidence of an ongoing fuel glut despite efforts led by OPEC to tighten the market by holding back production. Asian markets are also oversupplied, with traders continuing to put excess crude into floating storage, a key indicator for a glut.
• Market analyst have said that oil market is anticipated to be bullish for the second half of this year, based on supply and demand balances and the rebalancing is also going to start in the second half. But if Nigerian and Libyan production is picking up as well as they are now, then slowly things will be different.

  $1 = Rs. 64.24
 Import Custom Ex. Rate USD/ INR: 65.35
 Export Custom Ex. Rate USD/ INR: 63.70