Methanol Weekly Report 09 June 2018

Weekly Price Trend: 04-06-2018 to 08-06-2018

The above graph focuses on the Methanol price trend for the current week. Prices have followed weak trend for this week. By the end of the week prices were assessed around Rs 30/Kg for Kandla and Rs 30/kg Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have followed weak trend and by the end of the week prices were evaluated at Rs 30/kg for Kandla and Rs 30/kg for Mumbai ports.     
• CFR India prices were assessed in the range of USD 372/MTS. Prices have decreased by USD10/mt in compares to previous week.
• CFR China prices of methanol were evaluated at USD 410/mt.
• FOB Korea prices of Methanol were evaluated USD 429/mt.
• CFR South East Asia prices of Methanol USD 420/mt.
• Presently methanol market is moving with soft velocity no major deals and discussion has been heard.
• China's Sailboat Petrochemical plans to shut its MTO unit in July.
• China’s Shandong methanol is moving with firm velocity on tight supply.
• Brunei Methanol Co has shut down its Methanol unit this week. This shutdown was unexpected and unplanned. The operation has been put on halt due to some technical issues. The issue will be sorted out in a week and production will resume very soon. Unit is based at Sungai Liang Industrial Park in Brunei and has the manufacturing capacity of 
  8, 50,000 mt/year.
• This week oil prices have followed volatile trend. On Thursday oil prices surged due to concern about a steep drop in exports from Venezuela and concerns OPEC may not raise production at its meeting this month.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.95/bbl; prices have increased by $1.22/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $1.96/bbl in compare to last closing price and was assessed around $77.32/bbl.

 $1 = Rs. 67.50
 Import Custom Ex. Rate USD/ INR: 67.85
 Export Custom Ex. Rate USD/ INR: 66.15