EDC Weekly Report 10 June 2017

Weekly Price Trend: 05-06-2017 to 09-06-2017

• The above graph focuses on the weekly price trend of EDC for the current week.
• As per the above graph, it has been inferred that this week the prices of EDC have plunged in compare to previous week and at the end of this week prices were assessed at the level of Rs 23/kg.

     Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have plunged in compare to previous week and were assessed at Rs 23/kg.
• In international market, prices of EDC also have plunged by USD 15/mt in compare to earlier week.
• Presently EDC market is moving with soft-to-weak velocity demand sentiments have been soft from end users.
• This week oil prices have followed volatile trend. After OPEC, Russia and other producers extended their agreement to curb output by 1.8 million barrels a day for another nine months, to force a rebalancing of the oil market, the bearish tone in the oil sector resurfaced.
• The ethylene market was bearish as prices remained under pressure. Material is available in ample quantity and demand has been bearish.
• This week feedstock ethylene prices have decreased.
• CFR South East Asia prices of feedstock Ethylene were assessed at the level of USD980/mt.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 925/mt and USD 960/mt respectively.

$1 = Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70