Methanol Weekly Report 28 June 2019

Weekly Price Trend: 24-06-2019 to 28-06-2019

• The above graph focuses on the Methanol price trend for the current week. Prices remained vulnerable throughout this week. Domestic prices were assessed at the level of Rs.23/Kg for bulk quantity by end of the week. Prices increased by Rs.0.75/Kg for this week from last week are closing values.
• By the end of the week prices were assessed around Rs 23/Kg for Kandla and Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol remained vulnerable there was a constant variation in the values. Prices in the domestic market improved and were assessed at the level of Rs.23/Kg for this week.
• CFR India prices were assessed around USD 262/MTS, increased by USD 2/MT for this week.
• With continuous decline in values since last two months, this is first time that there has been increase in values. Although rise has been meager still market has been on improving mood significantly due to increase in crude prices in international market.
• Oil prices remained firm on Friday, with focus shifting to the G20 summit where a scheduled meeting between US President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease.
• A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity.
• According to experts "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later.
• The Organization of Petroleum Exporting Countries (OPEC) and some non-members including Russia, known as OPEC+, will hold meetings on July 1-2 in Vienna to decide whether to extend their supply cuts.

$1 = Rs. 69.05

Import Custom Ex. Rate USD/ INR: 70.40

Export Custom Ex. Rate USD/ INR: 68.70