EDC Weekly Report 25 Feb 2017

Weekly Price Trend: 20-02-2017 to 24-02-2017

• 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 remained firm in compare to previous week and at the end of this week prices were assessed at the level of Rs 25.5/kg.

Total import at various ports of India January, 2017

Above chart represent the import quantity of EDC for the month of January 2017. In January total imported quantity were around 50786mt. As per chart previous month at Hazira port higher quantity has been imported while at Cochin port imports were lesser.

     Booking Scenario

INDIA & INTERNATIONAL

• This week in the domestic market, prices of EDC have remained firm in compare to previous week and were assessed at Rs 25.5/kg.
• In international market, prices of EDC have also have remained firm in compare to earlier week.
• Oil prices remained volatile through the week. Some market players have said that oil prices will remain stuck in a narrow range as OPEC continues to cut output and U.S. drillers increase production. That will cap the recovery for oil stocks.
• The U.S. exported a good amount of crude oil and filling the gap in world markets created by OPEC cutbacks. OPEC certainly has to be concerned with U.S. oil producers eating into their market share. As per market analyst in near term the pressure on prices is going to stay in place and ultimately break out of this range to the downside.
• CFR South East Asia prices of feedstock Ethylene were assessed at the level of USD 1295/mt and USD1150/mt respectively.

• FOB Korea and CFR China prices of ethylene were assessed at the level of USD 1295/mt and USD 1340/mt.

$1 = Rs. 66.83
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15