Methanol Weekly Report 11 Feb 2017

Weekly Price Trend: 06-02-2017 to 10-02-2017

• The above graph focuses on the Methanol price trend for the current week. Prices have followed mixed inclination for this week. By the end of the week prices were assessed around Rs.34/Kg for Kandla and Rs 33/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed mixed inclination and by the end of the week prices were evaluated at Rs 34/kg for Kandla and Rs 33/kg for Mumbai ports.
• CFR India prices were assessed in the range of USD 350-370/MTS. Prices have increased by USD 12/mt in compares to previous week.

• FOB Korea prices of methanol were evaluated around at the level of USD 382/mt.

• CFR China prices were assessed in the range of USD 350-370/MT prices have decreased in compares to previous week.

• As per market report Iran methanol producers optimistic that naturage gas shortage will ease. A major methanol producer operated its methanol facilities at only 25% while another methanol producer operated its methanol plant at 70%.

• Malaysian PETRONAS running its Luban methanol plant at full capacity.
• As per report Zagros has shut its methanol plant on account of gas shortage.
• Market players have been uncertain about upcoming market condition as on account of shortage of gas methanol shortage takes place while prices are not improving.
• Recently market is moving with uncertain velocity some market players have adopted wait and watch stances hw the market will move then they will take initiative.
• Crude oil prices have followed fluctuation through the week and at end of the week prices have increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• As per report U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.

 $1 = Rs. 66.88
 Import Custom Ex. Rate USD/ INR: 68.40
 Export Custom Ex. Rate USD/ INR: 66.70