Methanol Weekly Report 18 Feb 2017

Weekly Price Trend: 13-02-2017 to 17-02-2017

• The above graph focuses on the Methanol price trend for the current week. Prices have followed mixed inclination for this week. By the end of the week prices were assessed around Rs.35/Kg for Kandla and Rs 34.5/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed mixed inclination and by the end of the week prices were evaluated at Rs 35/kg for Kandla and Rs 34.5/kg for Mumbai ports.                                                                                                                                              
• CFR India prices were assessed in the range of USD 375-395/MTS. Prices have increased by USD 25/mt in compares to previous week.

• FOB Korea prices of methanol were evaluated around at the level of USD 382/mt.

• CFR China prices were assessed in the range of USD 361-381/MT prices have increased in compares to previous week.
• As per the market report, methanol market is going up with the improved demand sentiments.
• Some market players have said that in near term methanol market will reveal positive sign.
• Crude prices continue to oscillate in a shifting range as traders considered the conflicting influence of weakening of US dollar. There has been constant high supply in last few weeks along with rising levels in the US crude inventory levels.
• As per report U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday closing, there has been rise in crude values.WTI values increased by USD  0.25/bbl and was assessed around $53.36. On other side there was slight decline in Brent value was observed. Brent crude prices reduced by $0.10/bbl and were assessed around $55.65/bbl.

$1 = Rs. 67.00
 Import Custom Ex. Rate USD/ INR: 67.85
 Export Custom Ex. Rate USD/ INR: 66.15