Methanol Weekly Report 12 April 2019

Weekly Price Trend: 08-04-2019 to 12-04-2019

• The above graph focuses on the Methanol price trend for the current week. Prices remained firm and increased for this week. Domestic prices were assessed at the level of Rs.27.75/Kg for bulk quantity.
• By the end of the week prices were assessed around Rs 27.75/Kg for Kandla and Mumbai ports, prices increased by Rs.2.25/Kg for this week.

Booking Scenario

INDIA&INTERNATIONAL 

• This week domestic market prices of Methanol remained firm and increased by Rs.2.25/Kg for this week. Prices in the domestic market improved and were assessed at the level of Rs.27.75/Kg for this week.
• CFR India prices were assessed around USD 290/MTS, with no change in values in compare to last week’s closing values. On other side CFR China prices also remained firm for this week at the level of USD 289-309/MT, increased by USD 5/MT for this week.
• Many units based in China are likely to restart their units in upcoming weeks. With this new capacity will be added to the market and supply will get increased.
• This week domestic market prices of Methanol remained firm and increased by Rs.2.25/Kg for this week. Prices in the domestic market improved and were assessed at the level of Rs.27.75/Kg for this week.
• CFR India prices were assessed around USD 290/MTS, with no change in values in compare to last week’s closing values. On other side CFR China prices also remained firm for this week at the level of USD 289-309/MT, increased by USD 5/MT for this week.
• Many units based in China are likely to restart their units in upcoming weeks. With this new capacity will be added to the market and supply will get increased.
• Canada based Methanex has posted its North American and Asian contract prices for the month of March 2019. Asian contract prices has been increased USD 10/MT and were posted at USD 370/MT. With upcoming period for maintenance of several major units, the prices are likely to seen and upward trend in Asian market. Prices posted for the Europe remain unchanged for this month and continue to remain USD 360/MT.
• There have been constant fluctuation include prices in international market. US has been worried for the formation of new Middle East bloc comprising of Turkey, Iran and Qatar.
• These nations are already in black list of US, now with strong connection among these countries the trigger is felt by the US government. 

PLANT NEWS

Methanol unit to be restarted by Qinghai Guilu Chemical

• Qinghai Guilu Chemical will restart its Methanol unit after long maintenance haul. Earlier the unit was shut down in the month of October last year. Now the company has announced its restart date and will restart the production on 30^th March.
• Unit is based at Xi'ning, Qinghai province of China and has the manufacturing capacity of 8,00,000 mt/year.

Methanol unit shut down by Shaanxi Yulin NG Chemical

• Shaanxi Yulin Natural Gas Chemical has shut down its Methanol unit for annual maintenance. The unit was shut down on 25^th March and is expected to remain off-stream for around two weeks.The unit is likely to resume its production on 8^th April 2019.
• Unit is based at Yulin in Shaanxi province of China and has the production capacity of 6,00,000 tonnes/year.

$1 = Rs. 69.27

Import Custom Ex. Rate USD/ INR: 69.45

Export Custom Ex. Rate USD/ INR: 67.75