Methanol Weekly Report 19 May 2018

Weekly Price Trend: 14-05-2018 to 18-05-2018

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 31.75/Kg for Kandla and Rs 31.75/kg Mumbai ports.

Total import at various ports of India April, 2018

Above graph represents the imported quantity of Methanol for the month of April, 2018. Last month total imported quantity was around 195593mt.

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 31.75/kg for Kandla and Rs 31.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 385/MTS. Prices have decreased by USD 4/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 418/mt.
• FOB Korea prices of Methanol were evaluated USD 413/mt.
• Presently methanol market is moving with soft velocity no major deals and discussion has been heard.
• China based Nanjing Wilson has shut down its Methanol to Olefins (MTO) unit for annual maintenance. The unit has been shut down last week and is likely to remain off-stream for around 2-3 weeks. Unit is absed at Jiangsu province of  China bad has the manufacturing capacity of 295 Kt/Year.
• Salalah Methanol Company (SMC) has restarted its Methanol unit after brief maintenance schedule. Earlier the unit was shut down for annual maintenance program on 1st April 2018. The unit remained off-stream for around 45 days and resume production on Friday. Unit is based at Oman and has the manufacturing capacity of 1,30,000 mt/year.
• Zhejiang Xingxing cuts MTO ops on weak margins.
• Buyers and sellers were bullish for the first half of the next quarter due to a concentration of turnarounds in the Middle East and southeast Asia.
• As per report, market players not seen any significant change to demand in the second quarter. They were in agreement that supply would likely play a larger part in influencing market prices than demand.
• This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
• On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.

 $1 = Rs. 68.00
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95