Methanol Weekly Report 21 August 2020

Weekly Price Trend: 17-08-2020 to 21-08-2020

• The above graph focuses on the Methanol price trend for the current week. Pricesremained stable throughout this week. Although market has been operating at slower rate in Methanol segment.
• By the end of the week by R.17.75/Kg for this week. There has been decline in values in domestic market for this week.

BOOKING SCENARIO

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol remained stable with no changes in the prices.
• Prices for India were assessed around USD 150/MT, with no change in values for this week. CFR China prices were assessed around USD 166/MT for this week.
• On other side CFR SEA prices were assessed in the range of USD 228-239/MT.
• International Methanol Company (IMC) has shutdown its Methanol unit abruptly. The duration for this shutdown has not been specified yet. Plant is located at Jubail, South Arabia and has the production capacity of 967 million MT/year.
• There has been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
• Domestic market has been operating at slower rate this year due to pandemic. The season of festivals has already started in India but there is no demand nor any  kind of rush for domestic consumption.
• There has been mixed trend in petrochemical market. Prices for the specific category of chemicals have been declining with slowdown in demand. Petrochemical segment has been struggling owing oversupply. There has been steep decline in consumption as most of the economies in Asian subcontinent are passing through major recession phase.
• Most major countries in Southeast Asia posted sharp economic contractions in the second quarter, while the number of infections in countries such as Indonesia, the Philippines and India continue to spike.
• Producers are not lowering offers substantially to maintain some margins due to a relatively stable feedstock acetic acid market. 

$1 = Rs. 74.84

Import Custom Ex. Rate USD/ INR: 75.90

Export Custom Ex. Rate USD/ INR: 74.15