Methanol Weekly Report 17 March 2018

Weekly Price Trend: 12-03-2018 to 16-03-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed up trend for this week. By the end of the week prices were assessed around Rs 30/Kg for Kandla and Rs 30/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed uptrend and by the end of the week prices were evaluated at Rs 30/kg for Kandla and Rs 30/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 341/MTS. Prices have increased by USD 5/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 365/mt.
• FOB Korea prices of Methanol were evaluated USD 385/mt.
• This week methanol prices have escalated in domestic market on tight supply, said by market players.
• As per report, Brunei Methanol Co is planning to shut its methanol plant for a maintenance turnaround. The plant is likely to be taken off-stream in early April 2018 for a period of around one week. It is located at Sungai Liang Industrial Park in Brunei, the plant has a production capacity of 850,000 mt/year.
• IGP Methanol (IGP) partners with COSCO, and Jinguotou (JGT) agreed to construct up to two methanol plants to supply feedstock for Jinguotou's Methanol-to-Olefins facility at Jin Zhou Port.
• On Thursday, closing crude values have increased. WTI on NYME closed at $61.19/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $65.12/bbl.
• Rising global oil demand, along with supply constraints from the OPEC, has helped keep oil above $60 a barrel.
• As per report, global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018. U.S. oil output hit a record 10.38 million barrels per day. OPEC expects to lose market share as output from non-OPEC nations soars.

 $1 = Rs. 64.93
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15