Methanol Weekly Report 11 September 2020

Weekly Price Trend: 07-09-2020 to 11-09-2020

• The above graph focuses on the Methanol price trend for the current week. Prices remained stable throughout this week. There has been improvement in Methanol price Although market has been operating at slower rate in Methanol segment.
• By the end of the week prices were assessed at the level of Rs.20.5/Kg for this week. There has been significant rise in domestic values.

 BOOKING SCENARIO

 INDIA & INTERNATIONAL

• This week domestic market prices of Methanol remained firm with significant rise in values by end of the week.
• Prices for India were assessed around USD 255/MT, with an increase of USD 15/MT for this week. CFR China prices were assessed around USD 210/MT for this week.
• On other side CFR SEA prices were assessed in the range of USD 239-259/MT.
• The havoc of Coronavirus seems to be unending in India. The cases has been highest in the world and it has been affecting the Indian economy very badly. This in turn has affected the demand in petrochemical industry. The GDP of the country has been lowest in last 24 years.
• With upliftment of restriction the number of cases has increased by many folds.
• The Indian economy has battered due to lockdowns and disruption in supply and further shattered consumer demands. Government is concerned and working hard for the sustainable growth in fourth quarter.
• On Thursday closing, there was significant decline in crude prices. WTI on NYME closed at $37.30/bbl. Prices reduced by $0.75/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.73/bbl in compare to last closing price and was assessed around $40.06/bbl.

$1 = Rs. 73.53

Import Custom Ex. Rate USD/ INR: 74.10

Export Custom Ex. Rate USD/ INR: 72.40