Methanol Weekly Report 26 May 2018

Weekly Price Trend: 21-05-2018 to 25-05-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak trend for this week. By the end of the week prices were assessed around Rs 30.75/Kg for Kandla and Rs 30.75/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak trend and by the end of the week prices were evaluated at Rs 30.75/kg for Kandla and Rs 30.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 390/MTS. Prices have increased by USD 5/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 410/mt.
• FOB Korea prices of Methanol were evaluated USD 420/mt.
• Presently methanol market is moving with soft velocity no major deals and discussion has been heard.
• As per market report, this week International prices have increased little while domestic methanol prices have remained firm.
• CNOOC shuts its No 2 methanol plant.
• China’s Yanzhou Coal Mining Erdos restarts its methanol plant.
• This week oil prices have followed volatile trend. On Thursday, prices plunged, by the prospect of the first increase in OPEC output since 2016 in the face of concern over supply from both Venezuela and Iran, while a surprise rise in U.S. crude inventories raised doubt over seasonal demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $70.71/bbl; prices have decreased by $1.13/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange decreased by $1.01/bbl in compared to last trading and was assessed around $78.79/bbl.

 $1 = Rs. 67.75
 Import Custom Ex. Rate USD/ INR: 68.65
 Export Custom Ex. Rate USD/ INR: 66.95