Methanol prices have decreased consecutively over the last one week on account of slow demand in Indian market. Indianpetrochem assimilated that the rationale behind this drop in prices was low demand for the chemical in the domestic market. Keeping in view with this, importers have been trying to clear off the remaining stock on low margins.
Over and above, importers did try to hold the price at the level of Rs.20.50-21.50 per kg by forming cartel in Indian market. A major trader informed the website that because of the cartel the prices remained stable for sometime but because of the poor demand from End-user the, prices declined by Rs.1-Rs.1.50 to Rs.19 per kg. The booking price of Methanol however had increased by $5 per MT to $295 per MT last week.
The port stock of methanol is at high level on low buying sentiments and incoming shipments are readily available. End-users have an impression that the booking price will remain at low level in the upcoming month and also the domestic price.
There is a very slim chance that the prices will go up beyond a level of Rs.19.50-20 per kg in the coming few weeks.
(This article was published on the website on December 30, 2014)
Over and above, importers did try to hold the price at the level of Rs.20.50-21.50 per kg by forming cartel in Indian market. A major trader informed the website that because of the cartel the prices remained stable for sometime but because of the poor demand from End-user the, prices declined by Rs.1-Rs.1.50 to Rs.19 per kg. The booking price of Methanol however had increased by $5 per MT to $295 per MT last week.
The port stock of methanol is at high level on low buying sentiments and incoming shipments are readily available. End-users have an impression that the booking price will remain at low level in the upcoming month and also the domestic price.
There is a very slim chance that the prices will go up beyond a level of Rs.19.50-20 per kg in the coming few weeks.
(This article was published on the website on December 30, 2014)
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