Weekly Methanol Report 9 October 2020

Weekly Price Trend: 05-10-2020 to 09-10-2020

• The above graph focuses on the Methanol price trend for the current week. Prices remained stable for most of the week. There has been rise in values by end of this week.
• By the end of the week prices were assessed at the level of Rs.21.75/Kg for this week. Prices increased by 0.75/Kg for this week.

BOOKING SCENARIO

INDIA & INTERNATIONAL

• This week domestic market prices of Methanol remained firm throughout this week. domestic prices were assessed in the range of Rs.21-21.5/Kg.
• Prices for India were assessed around USD 267/MT, increased by USD 9/MTS for this week. CFR China prices were assessed around USD 205/MT for this week.
• On other side CFR SEA prices were assessed in the range of USD 260/MT.
• The paint industry and laminate industries has now started their work and has also improved the consumption of methanol.
• There has been improvement in demand of petrochemicals in India market past few weeks. The rise has been in particular due to beginning of festive season across the nation. Next week there will be starting of Navratri festival which will further boost the demand for chemicals like Acetic Acid, vinyl acetate monomer, acrylonitrile, and styrene. Most of the households make changes in their houses or make heavy purchase in this festive season.
• Although this rise has been quite lower in compare to last year figures. End products of petrochemical industry like paints, varnishes, automotive components, appliances, adhesives, and food packaging etc all have rise in sales with inception of this festive season.
• Acetic acid has gained support from the clinical demand and festive demand, although the year on year consumption is lagging behind.
• Methanol the main product of Indian market has now increased its reach and the amount of import has also increased. Last two months’ average import was of 85% of last year imports. Still heavy stock is available at Indian ports.

$1 = Rs. 73.13

Import Custom Ex. Rate USD/ INR: 74.50

Export Custom Ex. Rate USD/ INR: 72.80