Weekly Methanol Report 11th December 2020

  Weekly Price Trend: 07-12-2020 to 11-12-2020   

• The above graph focuses on the Methanol price trend for the current week. Prices –remained highly vulnerable for this week.
• By the end of the week prices were assessed at the level of Rs.29.75/Kg for this week. Prices were anticipated to remain firm this week.

BOOKING SCENARIO

 INDIA & INTERNATIONAL

• Domestic prices for Methanol were assessed at the level of Rs.29.75/Kg for this week.
• Prices for India in international market were assessed around USD 335/MT, with an increase of USD 30/MTS for this week. CFR China prices were assessed around USD 290/MT for this week. There has been rise of USD 20/MT in China values.
• On other side CFR SEA prices were assessed in the range of USD 303/MT.
• Domestic market for Methanol remained firm for this week. With onset of winter and outage of major units has led to decline in the supply of the chemical.
• Demand sentiments remained very firm as prices were heading high in this week. This march is expected to continue in next week as well. Further sentiments re likely to remain bullish in the coming week as well.
• Softening in the production of Methanol in Iran and China has been the major contributing factors for this rise in international market. 
• Most of the buyers in the South Asian market were focusing on future discussions for the year 2021 rather than concentrating on spot market discussions.
• Oil gushed above $50 a barrel on in this week for the first time since early March as hopes of a faster demand recovery after the release of COVID-19 vaccines offset a huge rise in US crude inventories that showed there was still ample supply available.
• Britain began vaccinations this week and they could start as soon as this weekend in the United States. Canada on Wednesday approved its first vaccine and said initial shots would be delivered starting next week.

$1 = Rs. 73.65

Import Custom Ex. Rate USD/ INR: 74.70

Export Custom Ex. Rate USD/ INR: 73.00