Methanol Weekly Report 17 Feb 2018

Weekly Price Trend: 09-02-2018 to 16-02-2018

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 26.75/Kg for Kandla and Rs 26.75/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 26.75/kg for Kandla and Rs 26.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 347/MTS. Prices have decreased sharply by USD 12/mt in compares to previous week.
• Recently methanol prices have plunged on bearish demand sentiments from end users.
• This week methanol market has remained soft on account of upcoming Lunar New Year holiday in China.
• Methanol industry demand sentiments will go up after spring festival in China, said by market players.
• As per market players in near term in China market domestic methanol production may increase but supply increase will be restrained by plant turnarounds and low imports additionally downstream plants will restart which will escalate demand for methanol.
• CFR China prices of methanol were evaluated at USD 387/mt.
• FOB Korea prices of Methanol were evaluated USD 399/mt.
• This week oil prices have followed volatile trend. Oil prices extended gains on Thursday as a weak dollar and supportive comments from Saudi Arabia outweighed record U.S. production and rising inventories.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $61.34/bbl; prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $64.33/bbl.
• On Friday Oil prices edged higher as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday.
• As per market players, Oil is getting support from a rebound in global stock markets and a weak dollar, but the upside is limited due to a projection for rising U.S. production.

$1 = Rs. 64.21
 Import Custom Ex. Rate USD/ INR: 64.50
 Export Custom Ex. Rate USD/ INR: 62.85