Methanol Weekly Report 4 September 2020

Weekly Price Trend: 31-08-2020 to 04-09-2020

• The above graph focuses on the Methanol price trend for the current week. Prices remained stable throughout this week. There has been improvement in Methanol price Although market has been operating at slower rate in Methanol segment.
• By the end of the week prices were assessed at the level of Rs.18.75/Kg for this week. There has been slight improvement in domestic values for this week.

BOOKING SCENARIO

INDIA & INTERNATIONAL

• This week domestic market prices of Methanol remained firm with slight increase in values by end of the week.
• Prices for India were assessed around USD 215/MT, with an increase of USD 15/MT for this week. CFR China prices were assessed around USD 200/MT for this week.
• On other side CFR SEA prices were assessed in the range of USD 239-259/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.
• There has been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
• Domestic market has gained demand and there has been rise in prices
• On Thursday closing, there was slight decline in crude prices. WTI on NYME closed at $41.37/bbl. Prices reduced by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.36/bbl in compare to last closing price and was assessed around $44.07/bbl.

$1 = Rs. 73.13

Import Custom Ex. Rate USD/ INR: 75.90

Export Custom Ex. Rate USD/ INR: 74.15