Methanol Weekly Report 13 December 2019

Weekly Price Trend: 09-12-2019 to 13-12--2019

• The above graph focuses on the Methanol price trend for the current week. Prices remained vulnerable throughout this week. Domestic prices were assessed at the level of Rs.17.25/Kg for bulk quantity by end of the week.
• By the end of the week prices were assessed around Rs 17.25/Kg for Kandla and Mumbai ports, lesser by Rs.0.25/kg for this week.

Booking Scenario 

 INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have reduced slightly in Indian markets. There has been slight disruption in the demand sentiments. Prices in the domestic market were assessed at the level of Rs.17.25/Kg for bulk quantity.
• CFR India prices were assessed around USD 194/MTS, lesser USD 4/MT for this week.
• CFR China prices were assessed around USD 203-223/MT remained unchanged in values for this week.
• With ongoing winter season in Iran and other major methanol manufacturing nations there will be shortage in the supply of the Methanol as majority of units prefer to undergo maintenance in this duration due to shortage in the supply of natural gas. As it  is more used for domestic purpose in this season.
• Oil prices extended gains this week. There has been hike in values as the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies that has raised big questions about global demand for crude.
• While a trade deal that would end uncertainty could provide a shot in the arm for oil demand in the near term, concerns continue to hover about the demand profile amid ample supplies going forward.
• In the meantime the White House has agreed to suspend some tariffs on Chinese goods and reduce others in return for Beijing's pledge to hike purchases of US farm products in 2020.
• On Thursday, closing crude values have increased. WTI on NYME closed at $59.18/bbl. Prices have increased by 0.42/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.48/bbl in compare to last closing price and was assessed around $64.20/bbl.

$1 = Rs. 70.81

Import Custom Ex. Rate USD/ INR: 72.40

Export Custom Ex. Rate USD/ INR: 70.70