Methanol Weekly Report 14 April 2018

Weekly Price Trend: 09-04-2018 to 13-04-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak trend for this week. By the end of the week prices were assessed around Rs 31.25/Kg for Kandla and Rs 30.5/kg Mumbai ports.

Booking Scenario

 INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak trend and by the end of the week prices were evaluated at Rs 31.25/kg for Kandla and Rs 30.5/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 416/MTS. Prices have decreased by USD 6/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 380/mt.
• FOB Korea prices of Methanol were evaluated USD 385/mt.
• This week methanol market has remained soft as no major deals and discussion has taken place.
• In MTBE market also demand has been sluggish.
• Recently plants shutdowns across globe impacted supply availability.
• Market players said that the tightness would remain until June or the end of June, with further production losses expected from turnarounds in April and May.
• Yanzhou Coal Mining Company Limited has shut down its Methanol unit for maintenance turnaround. The unit was taen off-stream last week. Unit is based at Yulin in Shaanxi province of China and has the manufacturing capacity of 6,00,000 tonnes/year.
• Brunei Methanol Co has shutdown its Methanol plant for maintenance turnaround. The unit was shut down last weekend and is likely to remain off-stream for around two weeks. Unit is based at Sungai Lianr Industrial Park of Bruneiand has the manufacturing capacity of 8,50,000 mt/year.
• Oil prices have escalated through the week but on Thursday prices have remained mixed.
• On Thursday, closing crude values have mixed. WTI on NYME closed at $67.07/bbl; prices have increased by $0.25/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $72.02/bbl.

 $1 = Rs. 65.20
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.20