Methanol Weekly Report 30 August 2019 31 Aug 19, 11:45 am

Methanol Weekly Report 30 August 2019

Weekly Price Trend: 26-08-2019 to 30-08-2019

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.18/Kg for bulk quantity by end of the week.
By the end of the week prices were assessed around Rs 18/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 reduced significantly for this week and were assessed at the level of Rs.18/Kg for bulk quantity.
CFR India prices were assessed around USD 208/MTS, slightly increased by USD 1/MT for this week. With ongoing monsoon season at its peak there has been significant decline in demand for Methanol. There has been slowdown in demand from domestic market due to monsoon across the nation.
Indian market is operating at slow note due to ongoing festive season across the nation.
CFR China prices were assessed around USD 217-237/MT, reduced by USD 9/MTS in values in compare to last week’s closing values for this week.
There has been major slump in Methanol prices in China market. The crucial factors have been demand and supply fundamentals. With higher cost of production and low supply the manufacturers are in steady state.
The ongoing tensions between India and neighboring state have been a matter of concern. The neighboring state has cut down its all ties with India. Although this will not have major impact on India economy.
Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 680/MT, increased by USD 10/MT for this week, while CFR China prices also improved and were assessed at the level of USD 675/MT for this week.
Crude oil futures fell 0.15 per cent to Rs 4,036 per barrel on Friday after participants reduced positions amid a weak trend in global markets. Marketmen said the fall in crude oil futures was mostly due to trimming of positions by traders in tandem with a weak trend overseas.
Meanwhile, West Texas Intermediate crude oil was trading down 0.90 per cent to USD 56.20. Brent Crude, the international benchmark, fell 0.61 per cent to trade at USD 60.71 a barrel.
China's surprise decision to include crude oil in its latest round of tariffs on imports from the US is unlikely to restrict the overall US-Asia crude trade flows as various other Asian buyers are keen to pick up any US crude cargoes diverted from Chinese buyers.
However, US crude oil suppliers are expected to largely shrug off the latest counter measures from Asia's biggest oil consumer as demand for the US product remains robust in the region.
US crude oil has increasingly become a staple for many Asian refineries, with the sharp increase in US crude procurement from refiners in South Korea, Taiwan, India and Thailand more than making up for the cut back in China's purchases this year.