Methanol Weekly Report 14 Dec 2018

Weekly Price Trend: 10-12-2018 to 14-12-2018

• The above graph focuses on the Methanol price trend for the current week. Prices remained highly vulnerable for this week.
• By the end of the week prices were assessed around Rs 22/Kg for Kandla and Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL 

• This week domestic market prices of Methanol prices increased significantly on back of oversupply of chemical in the international market. By end of the week prices were assessed around Rs.22/Kg for Kandla and Mumbai port for bulk quantity.
• CFR India prices were assessed around USD 238/MTS, reduced by USD 12/MT for this week. On other sideCFR China prices were assessed around USD 275/MT increased by USD 7/MT for this week.
• Price remained vulnerable for this week in crude market. Earlier prices slowed down on Wednesday with impact of publish of data by US of crude supplied.
• Crude prices stood up on back of easing trade tension as well as decline in inventory levels. Ease in trade discussion between China and US has been a relief across the global market.
• Further decline in US crude stock has also pulled up the prices and boosted the sentiment. The crude prices have direct impact on petrochemical prices. Earlier OPEC stated that in 2019 demand for crude would fall to 31.44 million barrels per day, 100,000 bpd less than predicted last month and 1.53 million less than it currently produces. 

$1 = Rs. 71.97

Import Custom Ex. Rate USD/ INR: 71.75

Export Custom Ex. Rate USD/ INR: 70.05