Methanol Weekly Report 30 Dec 2017

Weekly Price Trend: 25-12-2017 to 29-12-2017

The above graph focuses on the Methanol price trend for the current week. Prices have decreased for this week. By the end of the week prices were assessed around Rs 29.75/Kg for Kandla and Rs 29.75/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 29.75/kg for Kandla and Rs 29.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 422-442/MTS. Prices have increased by USD 17/mt in compares to previous week.
• This week on account of weak demand sentiments from end users methanol prices have plunged.
• Market players have adopted wait and watch stance for uncertain market outlook.
• CFR South East Asia prices of methanol were evaluated at the USD 425/mt.
• This week crude oil prices have remained fluctuating. As 2017 draws to a close, On Thursday oil prices increased on lifted by strong data from top importer China and on increased U.S. refining activity that drew more crude from inventories. Recently,  thin trading activity ahead of the New Year weekend.
• As per report, market condition has been tight due to ongoing supply cuts led by OPEC, as well as top producer Russia.
• On Thursday, closing crude values have increased. WTI on NYME closed at $59.84/bbl; prices have increased by $0.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.28/bbl in compared to last trading and was assessed around $66.72/bbl.

 $1 = Rs. 63.87
 Import Custom Ex. Rate USD/ INR: 64.90
 Export Custom Ex. Rate USD/ INR: 63.20