Weekly Methanol Report 29th January 2021 01 Feb 21, 12:00 am

Weekly Methanol Report 29th January 2021

Weekly Price Trend: 25-01-2021 to 29-01-2021

The above graph focuses on the Methanol price trend for the current week. Prices remained firm for this week.
By the end of the week prices were assessed at the level of Rs.31/Kg for this week. Prices are anticipated to increase further in the upcoming week.

BOOKING SCENARIO

INDIA & INTERNATIONAL

Domestic prices for Methanol were assessed at the level of Rs.29.5-30/Kg for this week.
Prices for India in international market were assessed around USD 395/MT, with an increase of USD 5/MTS for this week.
CFR China prices were assessed around USD 299/MT for this week. There has decline of USD 10/MT in China market.
FOB Korea values were assessed around USD 380/MT for this week.
Domestic market for Methanol remained firm for this week. There has been tightened supply of chemical in domestic market.
Demand for chemical has remained stable and is likely to continue this trend in next few weeks as well.
India markets are waiting for the announcement of budget next week. All are keeping their eyes for the announcement of new policies and amendments in existing one.
In a major development NTPC Ltd. Has invited expression of interest from Indian and global companies to set up methanol manufacturing facilities at its power projects across India. The setting up of these facilities will be subject to approvals from the state and central governments.
The facilities will be developed in an aggregator mode on a build, own, and operate (BOO) basis.
The last date to submit the bids is March 31, 2020. The bids will be opened on the same day.
These facilities are proposed to be set up as part of creating a ‘methanol economy,’ an initiative of NITI Aayog of India. Besides reducing India’s oil import bill, the initiative will also help cut greenhouse gas emissions and convert Indian coal reserves and municipal solid waste into methanol.
Canada based Methanex has posted its North American and Asian contract prices for the month of February 2021. Asian contract prices are USD 430/MT, increased by USD 25/MT for this month while prices posted for North America is USD 392/MT.
Kaltim Methanol Industri has shut down its Methanol plant abruptly last week. The reason for this shutdown has been due to some technical fault. The unit is based at PT Kaltim Industi Estate Bontang in Indonesia and has the production capacity of 6,60,000 mt/year.