Methanol Weekly Report 19 July 2019

 Weekly Price Trend: 15-07-2019 to 19-07-2019

• The above graph focuses on the Methanol price trend for the current week. Prices remained vulnerable throughout this week. Domestic prices were assessed at the level of Rs.20.75/Kg for bulk quantity by end of the week. Prices reduced significantly by Rs.0.50/Kg for this week.
• By the end of the week prices were assessed around Rs 20.75/Kg for Kandla and Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL 

• This week domestic market prices of Methanol remained vulnerable there was a constant variation in the values. Prices in the domestic market reduced significantly for this week and were assessed at the level of Rs.20.75/Kg for bulk quantity.
• CFR India prices were assessed around USD 235/MTS, reduced by USD 8/MT for this week. With ongoing monsoon season at its peak there has been significant decline in demand for Methanol. There has been slowdown in demand from domestic market due to monsoon across the nation.
• CFR China prices were assessed around USD 241-262/MT, reduced by USD 9/MT for this week.
• Crude prices continue to decline in international market as Crude has overvalued in the past weeks and the scenario might deteriorate soon. Even after declining Crude inventories in U.S. prices continue to decline for the fourth trading session.
• Further tension in the Middle East further escalated after U.S. claimed to destroy an Iranian drone in the Strait of Hormuz which is a prime route for the global crude flows.
• Further fresh concerns rising from the Middle East might hamper the supply and in turn support Crude prices. However, worries over global slowdown continue to hamper Crude prices as President Donald Trump stated that an actual deal between U.S. & China might take time but he wouldn’t fall back to impose tariffs on $325 billion worth of Chinese imports in U.S. if needed.
• On Thursday day, closing crude values have mixed. WTI on NYME closed at $55.28/bbl. Prices have decreased by 2.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 1.15/bbl in compare to last closing price and was assessed around $65.5/bbl 

$1 = Rs. 68.80

Import Custom Ex. Rate USD/ INR: 69.65

Export Custom Ex. Rate USD/ INR: 67.95