Methanol Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017
 

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.23.75/Kg for Kandla and Rs 23.75/kg Mumbai ports.

Total import at various ports of India July, 2017

Above chart represents the total imported quantity of Methanol for the month of July 2017. Last month total imports were around 196039mt. As per chart previous month at Kandla port imports were higher while at Mangalore port imported quantity were 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 23.75/kg for Kandla and Rs 23.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 248-268/MTS. Prices have remained firm in compares to previous week.
• This week in China market prices have remained firm CFR China prices were assessed at the level of USD 293/mt.
• This week domestic methanol prices have plunged on account of plunge in demand.
• Methanol market is anticipated to remain subdued in near term as Europe continues to look east to Asia for direction.
• China’s Shandong Levima to shut MTO plant for maintenance.
• China methanol import prices surpass $300/tonne mark.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico.  The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.
• As per report, Prices rose as production in the affected area shut down in preparation for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
• Market players have said that traders expect more upward pressure as the storm gets closer to Texas. Oil prices, however, fell because refiners may use less supply due to the storm.
• It is anticipated that recently oil prices to trade higher on account of support coming from inventory withdrawals in the US. However, Libya’s rising output remains a cause of concern for oil markets.

  $1 = Rs. 64.03
 Import Custom Ex. Rate USD/ INR: 65.15
 Export Custom Ex. Rate USD/ INR: 63.45