Methanol Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017
 

• The above graph focuses on the Methanol price trend for the current week. Prices have followed up inclination for this week. By the end of the week prices were assessed around Rs.19/Kg for Kandla and Rs 19/kg Mumbai ports.

Total import at various ports of India April, 2017

Above chart represent the imported quantity of Methanol for the month of April, 2017. Last month total imported quantity was assessed 192810mt. As per chart at Kandla port higher quantity has been imported while at mangalore port imports were lesser.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed up inclination and by the end of the week prices were evaluated at Rs 19/kg for Kandla and Rs 19/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 222-242/MTS. Prices have increased by USD 3/mt in compares to previous week.

• FOB Korea prices of methanol were evaluated around at the level of USD 278/mt.

• CFR China prices were assessed in the range of USD 253-273/MT prices have increased in compares to previous week.
• This week domestic prices of methanol have increased but the reason behind that is still unclear.
•  Additionally, some players have said that again prices will go down and material availability has been ample.
• In China market, domestic methanol supply was sufficient as plants have resumes its production which has resulted in plunge in prices relentlessly. In near term there are several plants which will go for turnaround, which could ease the supply glut and slow down the market downturn.
• As per market predictors in Indian market buyers further believe softening in prices due to heavy supply of the chemicals in the month of May.
• This week overall crude oil prices have plunged with little volatility. Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• As per recent report, Russia and Saudi Arabia announced earlier in the week that the supply cut should be extended for another nine months, into March 2018. Members of OPEC will meet next week to discuss extending the supply cut.
• Some market analyst predict that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but that would also be a green light for U.S. shale drillers, said by source. Many analysts expect to see $60 oil by the end of the year, but the gains are not expected to spike much higher.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl.

  $1 = Rs. 64.64
 Import Custom Ex. Rate USD/ INR: 65.30
 Export Custom Ex. Rate USD/ INR: 63.60