Methanol Weekly Report 22 July 2017

Weekly Price Trend: 17-07-2017 to 21-07-2017
 

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak inclination for this week. By the end of the week prices were assessed around Rs.20/Kg for Kandla and Rs 20/kg Mumbai ports.

Total import at various ports of India June, 2017

Above chart represent the total imported quantity of methanol for the month of June 2017.
Previous month total imports were around 154202MT. As per chart last month at Kandla port imports were higher while at Mangalore port imported quantity was lesser.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak inclination and by the end of the week prices were evaluated at Rs 20/kg for Kandla and Rs 20/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 233-253/MTS. Prices have increased in compares to previous week.
• Presently methanol market is moving with uncertain velocity.
• In china market material is available in ample amount but stipulation from end users has been bearish.
• Iran’s Zagros Petrochemical runs one methanol plant at lower rate.
• China's Ningxia Hening to shut methanol plant on 1 August.

• FOB Korea prices of methanol were evaluated around at the level of USD 292/mt.

• This week oil prices have followed volatility in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. On Thursday , oil settled lower in uneven trading.Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
• Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
• Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.

  $1 = Rs. 64.32
 Import Custom Ex. Rate USD/ INR: 65.65
 Export Custom Ex. Rate USD/ INR: 63.95