Methanol Weekly Report 21 July 2018

Weekly Price Trend: 16-07-2018 to 20-07-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed volatile trend for this week. By the end of the week prices were assessed around Rs 33.75/Kg for Kandla and Rs 33.75/kg Mumbai ports.

Total import at various ports of India June, 2018

Above graph represents the total imported quantity of Methanol for the month of June 2018. As per graph last month total imports was around 185933MT. Last month at Kandla port imports were higher while at Cochin port imports were lesser.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed volatile trend and by the end of the week prices were evaluated at Rs 33.75/kg for Kandla and Rs 33.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 382/MTS. Prices have remained firm in compares to previous week.
• CFR China prices were evaluated at USD 384/MT. Prices have plunged remained firm.
• As per report, recently China’s domestic methanol prices in the key Shandong market have been on a downtrend note due to weak stipulation.
• Currently methanol market is moving with uncertain velocity on account of this some market players have adopted observing stances.
• China's Jiangsu Sailboat plans to shut its MTO plant.
• The methanol unit has been restarted by Shaanxi Changqing Energy after an unplanned shutdown. Earlier the unit was shut down on 10th July 2018. Unit is based Shaanxi province of China and has the manufacturing capacity of 6,00,000 mt/year.
• The methanol producer, Methanex, has announced it has signed agreements with gas suppliers that are expected to enable it to operate at over half its capacity until 2029.
• This week oil prices have followed mixed trend. On Thursday, Brent crude fell as concerns about mounting supply returned after a brief rally on comments that Saudi Arabia's exports would fall in August. Crude also strengthened on forecasts that inventories at the U.S. oil delivery hub for WTI in Cushing, Oklahoma fell 1.8 million barrels, or 6.2 percent.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $69.46/bbl; prices have increased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $72.58/bbl.

 $1 = Rs. 68.87
 Import Custom Ex. Rate USD/ INR: 69.60
 Export Custom Ex. Rate USD/ INR: 67.90