Methanol Weekly Report 30 Sep 2017

Weekly Price Trend: 25-09-2017 to 29-09-2017

The above graph focuses on the Methanol price trend for the current week. Prices have followed volatile inclination for this week. By the end of the week prices were assessed around Rs.27.75/Kg for Kandla and Rs 27.75/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed volatile inclination and by the end of the week prices were evaluated at Rs 27.75/kg for Kandla and Rs 27.75/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 320-340/MTS. Prices have increased in compares to previous week.
• This week in China market prices have increased CFR China prices were assessed at the level of USD 337/mt.
• This week methanol prices have increased in compare to last week.
• As per market players, methanol market is moving with uncertain velocity on account oaf this end users are buying only need based material and for ample quantity they have adopted observing stances.
• In China market demand sentiments have remained bearish on account of upcoming national day holiday from 1st to 7th   October it is anticipated that after holiday prices will go up, said by market predictors..
• China’s Shandong Hualu-Hengsheng starts up new methanol plant.
• Kaltim Methanol Industri is planning to shut its methanol unit for maintenance turnaround. The unit is likely to go off-stream in the month of October as per annual maintenance schedule. Unit is expected to remain out of production for around 40 days and may resume its production n in November. Unit is based at Botang in Indonesia and has the production capacity of 6,60,000 mt/year.
• Brunei Methanol Company is planning to shut its Methanol unit for maintenance turnaround. The unit is likely to go off-stream in the last week of September 2017. The unit is likely to resume its production after 40-45 days. Unit is based in Brunei and has the production capacity of 850 Kt/year.
• This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl. Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.

  $1 = Rs. 65.28
 Import Custom Ex. Rate USD/ INR: 65.40
 Export Custom Ex. Rate USD/ INR: 63.70