Methanol Weekly Report 25 Nov 2017

Weekly Price Trend: 20-11-2017 to 24-11-2017

The above graph focuses on the Methanol price trend for the current week. Prices have remained volatile for this week. By the end of the week prices were assessed around Rs.27.25/Kg for Kandla and Rs 27.25/kg Mumbai ports.

Total import at various ports of India October, 2017

Above graph represents the total imported quantity of Methanol for the month of October 2017. Last month total imported quantity of Methanol was around 245645mt. At Kandla port imported quantity were higher while at Mangalore 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 27.25/kg for Kandla and Rs 27.25/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 344-364/MTS. Prices have increased in compares to previous week.
• Methanol market is moving with up velocity. Demand sentiments have been increasing from end users.
• Methanol becomes precious in recent weeks, on price rising continuously in China, and shortage of material have escalated the prices.
• Aspr report, MTO plant resumed feedstock methanol procurement in the end of Oct. Its appetite for merchant methanol supplies grew larger with operating rate up from 60% to 90%.
• As per market analyst, methanol futures and spot market hikes considerably.
• However, several domestic methanol production plants with large capacity combined is coming back on stream after maintenance. The near term up trend is deteriorating in  anticipation of supply boost.
• PETRONAS placed at labuan Island, Malaysia shut down its methanol plant.
• China’s Shandong Levima cuts MTO plant run rate to 70%.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.45/bbl; prices have increased by $0.37/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $63.38/bbl.

 $1 = Rs. 64.70
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50