Methanol Weekly Report 30 June 2018

Weekly Price Trend: 25-06-2018 to 29-06-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed up trend 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 up trend and by the end of the week prices were evaluated at Rs 32/kg for Kandla and Rs 32/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 380/MTS. Prices have remained firm in compares to previous week.
• This week CFR India prices have remained firm as market is moving with uncertain velocity.
• China's methanol futures prices increased 1.90% on bullish sentiment.
• This week domestic methanol prices have escalated on improved demand from end users and lesser availability of material at ports.
• Canada’s Methanex sets July methanol APCP stable at $490/tone.
• CFR China prices of methanol were evaluated at USD 399/mt.
• FOB Korea prices of Methanol were evaluated USD 423/mt.
• CFR South East Asia prices of Methanol USD 434/mt.
• The commercial production has started now by OCI Natgasoline plant this week which marks the commencement of a new era in the US methanol industry. The Natgasoline’s plant has the production capacity of 1.8 m tone/year.
• US Methanol is relocating its company’s facility from Brazil to west Virginia. The unit was planned to start production this year. Now it has been postponed to 2019 end. The unit will convert natural gas to methanol for use by existing chemical plants. The company will provide methanol as feedstock for the chemical industry in the mid-Atlantic and Northeastern states.
• US Methanol is relocating its company’s facility from Brazil to west Virginia. The unit was planned to start production this year. Now it has been postponed to 2019 end. The unit will convert natural gas to methanol for use by existing chemical plants. The company will provide methanol as feedstock for the chemical industry in the mid-Atlantic and Northeastern states.
• This week crude oil prices have escalated. On Thursday oil prices climbed, with U.S. crude hitting a three-and-a-half year high, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran.
• On Thursday, closing crude values have increased. WTI on NYME closed at $73.45/bbl; prices have increased by $0.69/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compare to last closing price and was assessed around $77.85/bbl.

 $1 = Rs. 68.47
 Import Custom Ex. Rate USD/ INR: 69.10
 Export Custom Ex. Rate USD/ INR: 67.40