Methanol Weekly Report 28 July 2018

Weekly Price Trend: 23-07-2018 to 27-07-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed remained firm for this week. By the end of the week prices were assessed around Rs 33/Kg for Kandla and Rs 33/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed firm trend and by the end of the week prices were evaluated at Rs 33/kg for Kandla and Rs 33/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 375/MTS.
• CFR China prices were evaluated at USD 398/MT. Prices have increased by USD 4/mt in compares to previous week.
• This week CFR China methanol prices have increased while CFR India prices have remained firm.
• Presently market is moving with soft velocity no major deals and discussion has been heard from end users.
• Some market players have said that on account of seasonal lull demand has been bearish.
• Iran based Zagros Petrochemical Company has shut down its Methanol no2 last weekend. This shutdown was not planned and happened due to some technical issue. The unit is likely to resume its production by this weekend. The plant is based at Asaluyeh in Iran and has the production capacity of 1,65,000 mt/year.
• China's Shaanxi Carbonification Energy restarts its methanol plant.
• China based Hebei Tianlu New Energy Chemical to restart its no1 Methanol unit after brief maintenance period. The plant is based at Hebei province of China.
•  As per report, SCC drops US August methanol contract to 144 cents/gal.
• On Thursday, closing crude values have increased. WTI on NYME closed at $69.61/bbl; prices have increased by $0.31/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.61/bbl in compare to last closing price and was assessed around $74.54/bbl.

$1 = Rs. 68.65
 Import Custom Ex. Rate USD/ INR: 69.60
 Export Custom Ex. Rate USD/ INR: 67.90