Methanol Weekly Report 21 April 2018

Weekly Price Trend: 16-04-2018 to 20-04-2018

The above graph focuses on the Methanol price trend for the current week. Prices have escalated sharply for this week. By the end of the week prices were assessed around Rs 33/Kg for Kandla and Rs 33/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed up trend and by the end of the week prices were evaluated at Rs 33/kg for Kandla and Rs 33/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 394/MTS. Prices have decreased by USD 6/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 385/mt.
• FOB Korea prices of Methanol were evaluated USD 397/mt.
• This week methanol market prices have escalated on improved buying sentiments from end users and slack in supply.
• Refurbishment work at OCI's mothballed methanol plant in the Netherlands is on track for a fourth quarter startup, As per report.
• Brunei Methanol Company (BMC) has restarted its Methanol unit after an abrupt shutdown. The unit was planned for annual maintenance in the first week of May but due to so   Earlier the unit was shut down due to some technical issue in the first week of April. The company took this opportunity during the unexpected shutdown to call for an early maintenace schedule.Unit is based at Sungai Liang Industrial Park and has the manufacturing capacity of 8,50,000 mt/year. Brunei Methanol is a joint venture between Japan's Mitsubishi Gas Chemical (50%), Itochu (25%) and Brunei National Petroleum Company (25%).
• As per market source, China continues to be the key market for methanol producers, but India is growing in prominence as a consumer,
• As per report, the MTO sector has experienced a rocky period of growth in China, with volatile pricing impacting on the competitiveness of plants in the country. However, the current administration has taken a more-focused approach to permitting new plants.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $68.29/bbl; prices have decreased by $0.18/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 $73.78/bbl.s

 $1 = Rs. 66.03
 Import Custom Ex. Rate USD/ INR: 66.70
 Export Custom Ex. Rate USD/ INR: 65.00