Methanol Weekly Report 31 July 2020

Weekly Price Trend: 27-07-2020 to 31-07-2020

• The above graph focuses on the Methanol price trend for the current week. Prices declined slightly for this week.
• By the end of the week by 0.50/Kg for this week. There has been decline in values of Methanol for this week.

BOOKING SCENARIO

INDIA & INTERNATIONAL 

• This week domestic market prices of Methanol have reduced for this week. Prices were assessed around Rs.18/Kg for this week for bulk quantity.
• Prices for India were assessed around USD 150/MT, with no change in values for this week. CFR China prices were assessed around USD 166/MT for this week.
• On other side CFR SEA prices were assessed in the range of USD 228-239/MT.
• International Methanol Company (IMC) has shutdown its Methanol unit abruptly. The duration for this shutdown has not been specified yet. Plant is located at Jubail, South Arabia and has the production capacity of 967 million MT/year.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $39.92/bbl. Prices have decreased by 1.35/bbl in compared to last closing prices. While Brent on Inter Continental Exchange have decreased by 0.81/bbl in compare to last closing price and was assessed around $42.94/bbl.
• Canada based Methanex has posted its North American and Asian contract prices for the month of August 2020. Asian contract prices are USD 245/MT, increased by USD 30/MT for this month while prices posted for North America is USD 276/MT.
• Sinopec Zhongyuan Petrochemical has shutdown its MTO unit for maintenance turnaround. The production was put on halt on July 24, 2020. The authorities believe unit is likely to remain off-stream for the whole quarter.
• Unit is based at Henan in China and has the production capacity of Ethylene and Propylene around 1,00,000 mt/year. 

$1 = Rs. 74.81

Import Custom Ex. Rate USD/ INR: 76.10

Export Custom Ex. Rate USD/ INR: 74.30