Methanol Weekly Report 24 July 2020

Weekly Price Trend: 20-07-2020 to 24-07-2020

• The above graph focuses on the Methanol price trend for the current week. Prices declined significantly for this week.
• By the end of the week prices were assessed around Rs 18.5/Kg for Kandla and Mumbai ports. It set to be an increase of Rs.1/Kg in one week.

BOOKING SCENARIO

INDIA & INTERNATIONAL 

• This week domestic market prices of Methanol have reduced for this week. Prices were assessed around Rs.18.5/Kg for this week for bulk quantity.
• Prices for India were assessed around USD 150/MT, with an increase of USD 1/MT 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.
• Zargos Petrochemical will soon restart its Methanol unit no2. Earlier the unit was shut down 10 days back due to some technical fault in the operations. It is based at Assalyueh in Iran and has the production capacity of 1.65mn t/yr of methanol. The unit no1 is also having the same capacity.
• Jiangsu Sailboat has shutdown its MTO unit for maintenance turnaround. The operations were put on halt due to some technical fault arose last week. The unit is likely to remain off-stream for around three weeks. Unit is based at Lianyuang in Jiangsu province of China and has the production capacity of Ethylene around 360,000 MT/year and propylene production capacity of 470,000 MT/year. 

$1 = Rs. 74.23

Import Custom Ex. Rate USD/ INR: 76.10

Export Custom Ex. Rate USD/ INR: 74.30