Methanol Weekly Report 15 Feb 2019

Weekly Price Trend: 11-02-2019 to 15-02-2019

• The above graph focuses on the Methanol price trend for the current week. Prices remained highly vulnerable for this week. There has been firmness in the initial but by end of the week prices declined in domestic market.
• By the end of the week prices were assessed around Rs 26.75/Kg for Kandla and Mumbai ports. Prices remained stable throughout this week.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol remained stable and by end of the week it declined and settled at Rs.26.75/Kg for this week. Prices in the domestic market increased and were assessed to the level of Rs.26.25/Kg for bulk quantity.
• CFR India prices were assessed around USD 315/MTS, increased by USD 10/MT for this week. On other side CFR China prices remained unchanged with no change in values. Methanol prices have been highly unpredictable and since last few weeks. With heavy increase in ACP prices last week, values in domestic market remained vulnerable.
• On back of Lunar holidays there has been no commercial activities held in China market.
• Moreover the ongoing Lunar vacation in China has also slowed down the trade and trading in international market.
• International prices for Methanol for this week were assessed around USD 315/MT increased by USD 10/MT for this week. Methanol values remained flat in China market.
• The recent terror attack on Indian military will have an adverse impact on Indian trade relation with neighboring nation. Moreover such heinous attacks affect the economy of the country as well.
• Oil prices hit new high after a week long and has been the highest in this year. Withhold in the supply of crude from The Petroleum Exporting Countries (OPEC) and some non-affiliated suppliers including Russia has led to this hike in values.
• Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by U.S. sanctions against Venezuela and Iran as well as OPEC-led supply cuts.
• Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.97 a barrel by 0450 GMT. That was still 0.6 percent above the last close. 

PLANT NEWS

Methanol plant restarted by Quinghai Guilu Chemical

• China based company Qinghai Guilu Chemical has restarted its methanol unit. The unit was shut down for annual maintenance. The unit is based at Qinghai province of China and has the manufacturing capacity of 800 kt/year.

Methanol plant to be shut down by Kaltim Methanol Industri for maintenance

• Kaltim Methanol Industri has shut down its Methanol plant for annual maintenance. The shutdown is as per annual maintenance program. The unit is likely to remain off-stream for around three weeks. The unit will resume its production in the month first week of March.
• Unit is based at PT Kaltim Industri Estate Bontang, Indonesia.

$1 = Rs. 71.22

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95