SMS Image

Price Alerts

News Image

Chemical News

Report Image

Market reports

Report Image

Historical Data

Try free for 30 days


Free Trial

Methanol Weekly Report 27 December 2019

 Weekly Price Trend: 23-12-2019 to 27-12--2019


  • The above graph focuses on the Methanol price trend for the current week. Prices remained vulnerable throughout this week. Domestic prices were assessed at the level of Rs.18/Kg for bulk quantity by end of the week.
  • By the end of the week prices were assessed around Rs 18/Kg for Kandla and Mumbai ports. 

Booking Scenario

INDIA&INTERNATIONAL

  • This week domestic market prices of Methanol have remained mixed throughout this week. There has been slight disruption in the demand sentiments. Prices in the domestic market were assessed at the level of Rs.18/Kg for bulk quantity.
  • CFR India prices were assessed around USD 200/MTS, a rise of USD 4/MT for this week.
  • CFR China prices were assessed around USD 206-226/MT, with no change in prices for this week.
  • With ongoing winter season in Iran and other major methanol manufacturing nations there will be shortage in the supply of the Methanol as majority of units prefer to undergo maintenance in this duration due to shortage in the supply of natural gas. As it is more used for domestic purpose in this season.
  • In a new move the government of India is considering introducing methanol-blended fuel across the country to trim the oil import bill and check the rising pollution levels. If implemented, it could cut save the country nearly Rs 5,000 crore annually in oil imports, trim consumers' fuel bills by nearly 10 percent and slash vehicular pollution levels by over 30 percent. Currently, the country uses a 10 percent ethanol-blended fuel. But, ethanol production at Rs 42 a litre is almost double that of methanol at Rs 20 a litre.
  • Iran based Zargos Petrochemical has restarted its Methanol plant no 1 after short maintenance. The plant will take time to reach its complete operational capacity. At present there is extreme winter in Iran as result majority of supply of natural gas is diverted towards the domestic usage.
  • Zagros’ methanol plants are located in Assaluyeh, Iran, and have a nameplate capacity of 1.65m tonne/year each.
  • Kaltim Methanol Industri has restarted its Methanol unit after brief maintenance turnaround. The source in Indonesia informed that the company has resumed operations at the plant. The plant was taken off-line in end-November 2019. Located in Bontang, Indonesia, the methanol plant has a production capacity of 660,000 mt/year.
  • On Thursday, closing crude values have increased. WTI on NYME closed at $61.68/bbl. Prices have increased by 0.57/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.72/bbl in compare to last closing price and was assessed around $67.92/bbl.
  • Persistent oversupply of crude in the global oil and gas market has created a difficult situation for smaller oil and gas companies who must find ways to compete in a debt-laden, low-priced environment against state-run oil titans like Saudi Aramco and deep-pocketed oil giants such as Exxon.
  • But the small oil and gas players—those private companies that are facing an uncertain future despite sitting atop a literal wealth of oil and gas in prolific US shale plays-may have just been handed their ticket out of trouble by the largest oil importer in the world, China

$1 = Rs. 71.36

Import Custom Ex. Rate USD/ INR: 71.90

Export Custom Ex. Rate USD/ INR: 70.20