Methanol Weekly Report 24 March 2018

Weekly Price Trend: 19-03-2018 to 23-03-2018

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 30/Kg for Kandla and Rs 30/kg Mumbai ports.

Total import at various ports of India February, 2018

Above graph represents the prices of Methanol for the month of February, 2018. Previous month total imported quantity was around 119201MT.

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 30/kg for Kandla and Rs 30/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 390/MTS. Prices have increased by USD 16/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 376/mt.
• FOB Korea prices of Methanol were evaluated USD 395/mt.
• This week methanol prices have fluctuated in domestic market on volatile demand sentiments, said by market players.
• As per report, China’s Hebi Coal Group shuts its methanol unit for maintenance.
• The decision taken by Reserve Bank of India (RBI) to ban the lending credit will have an adverse impact on chemical importers in the country. The recent scam in PNB and many other defaulters has hit hard to the Indian banking system. The central banking authority has now decided to put a weight on LC and LOU.
• The implementation of this law will come in April month.
• Indian methanol market also affected by the uncertainty over the long-term impact of the RBI ban on account of this since the announcement prices fluctuating widely.
• This week crude oil prices have followed little volatility while increased through the week. On Thursday oil prices fell as investors booked profits after this week's rally, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.30/bbl; prices have decreased by $0.87/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.56/bbl in compared to last trading and was assessed around $68.91/bbl.

 $1 = Rs. 65.00
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15