Methanol Weekly Report 21 February 2020

Weekly Price Trend: 17-02-2020 to 21-02--2020

• The above graph focuses on the Methanol price trend for the current week. Prices have fluctuated for most of the week. Domestic prices were assessed at the level of Rs.24.5/Kg, increased by Rs.0.50/Kg for this week.
• By the end of the week prices were assessed around Rs 24/Kg for Kandla and Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have remained firm and strong throughout this week. Prices in the domestic market were assessed at the level of Rs.24./Kg for bulk quantity.
• CFR India prices were assessed around USD 205/MTS, with no change in values as market remained closed today.
• China market also remained unchanged for this week. CFR China prices were assessed around USD 226/MT for this week.
• Oil prices has been on rising trend as the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.
• Scores of new coronavirus cases and a first death in South Korea fanned fears of global pandemic as research suggested it could be more contagious than previously thought.
• China’s move to cut its benchmark lending rate eased some worries about slowing demand in the world’s second-biggest oil consumer and largest crude oil importer.
• Indian markets remained closed due to festival of shivratri across the country and very few discussions were heard in the market.

$1 = Rs. 71.66

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95