Methanol Weekly Report 28 February 2020

Weekly Price Trend: 24-02-2020 to 28-02--2020

• The above graph focuses on the Methanol price trend for the current week. Prices have fluctuated for most of the week. Domestic prices were assessed at the level of Rs.23.5/Kg, reduced by Rs.1/Kg for this week.
• By the end of the week prices were assessed around Rs 23.5/Kg for Kandla and Mumbai ports.

Booking Scenario

INDIA&INTERNATIONAL

• This week domestic market prices of Methanol have remained vulnerable and were assessed around Rs.23.5/kg for this week for bulk quantity.
• CFR India prices were assessed around USD 202/MTS, reduced by USD 3/MTS for this week.
• China market also remained unchanged for this week. CFR China prices were assessed around USD 226/MT for this week.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $47.09/bbl. Prices have decreased by 1.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 1.25/bbl in compare to last closing price and was assessed around $53.18/bbl.
• Oil prices has been operating on declining mode and were on track for about a 12 per cent weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
• The virus, which has already killed more than 2,700 people in China, has been found in another 46 countries and caused 57 deaths. Experts worry the epidemic could turn into a pandemic and deliver a damaging blow to the global economy.
• The most active Brent crude contract for May was down 90 cents, or 1.7 per cent, at $50.83 a barrel by 0141 GMT, a 14-month low. The front-month April contract expires today.
• The international benchmark, which fell about 2 per cent on Thursday, has shed around 12 per cent this week and is on track for its steepest weekly decline since mid-January 2016.
• With new infections reported around the world now surpassing those in mainland China, the World Health Organization said on Thursday that all countries need to prepare to combat the coronavirus.

$1 = Rs. 72.20

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95