Weekly Methanol Report 2 October 2020 05 Oct 20, 08:54 am

Weekly Methanol Report 2 October 2020

Weekly Price Trend: 28-09-2020 to 02-10-2020

The above graph focuses on the Methanol price trend for the current week. Prices remained variable throughout this week. There has been rise and fall in values throughout this week.
By the end of the week prices were assessed at the level of Rs.21/Kg for this week. There has been no major variation in domestic values.

BOOKING SCENARIO

INDIA & INTERNATIONAL

This week domestic market prices of Methanol remained firm throughout this week.
Prices for India were assessed around USD 258/MT, reduced by USD 12/MTS for this week. CFR China prices were assessed around USD 210/MT for this week.
On other side CFR SEA prices were assessed in the range of USD 260/MT.
This week there has been no price declaration as major markets in Asian subcontinent will remain closed for a week. Major trade activities will resume after 8th October 2020.
The paint industry and laminate industries has now started their work but again due to pandemic the demand continues to remain lull from end user segment.
Recently the government of India has given some positive notes to the Indian petrochemical industry.
COVID-19 pandemic has given ample opportunities to the chemical and petrochemical sector to grow by restoring the business models as demand for items like sanitizers, PPE, masks have increased manifold.
The vision of Indian PM for Atmanirbhar Bharat and the right steps in this direction will surely help the industry record a massive growth and reduce import dependence on any nation.
The Indian government is taking major initiatives to promote Atmanirbharta in the chemical and petrochemical sector as its development will have a positive effect on allied industries.
Most of the international market remained silent for this weekend. China has been observing the national holiday. The first week of October will remain silent in most of the north eastern region. Before holidays, the data released by China market was quite encouraging whereas rest of the Asian countries has been facing tough times.
Chinese market will remain closed till 8^th Oct on occasion of National holiday and Mid-Autumn vacations whereas markets in Taiwan and South Korea will resume operations next week.
Canada based Methanex has posted its North American and Asian contract prices for the month of October 2020. Asian contract prices are USD 300/MT, increased by USD 40/MT for this month while prices posted for North America is USD 336/MT.