Methanol Weekly Report 14 Oct 2017

Weekly Price Trend: 09-10-2017 to 13-10-2017

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak inclination for this week. By the end of the week prices were assessed around Rs.26.25/Kg for Kandla and Rs 26.25/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak inclination and by the end of the week prices were evaluated at Rs 26.25/kg for Kandla and Rs 26.25/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 310-330/MTS. Prices have plunged in compares to previous week.
• Methanol market is moving with sluggish velocity. Demand sentiments have been bearish from end users.
• Some market players have said that on account of uncertain market condition market players have adopted observing stances recently.
• China’s Hebei Tianlu to soon shut No 3 methanol unit.
• US Aug methanol imports drop almost 18%, exports down 11%.
• In China market is moving with volatile velocity after holiday upcoming outlook also have been uncertain but some players said that in near term market will be downward.
• This week oil prices have followed volatile inclination. on Thursday  oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $50.60/bbl, prices have decreased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.69/bbl in compared to last trading and was assessed around $56.25/bbl.
• As per report, the global outlook for oil markets in 2018 could put a dampener on hopes for higher prices. Market players said that supply growth in the final three months of the year would be supportive for oil prices in the fourth quarter. Oil prices could climb close to $60 a barrel in the "very short run."

  $1 = Rs. 64.93
 Import Custom Ex. Rate USD/ INR: 65.95
 Export Custom Ex. Rate USD/ INR: 64.30