Methanol prices in India on a stable mode
Methanol being one of the crucial chemical of Indian chemical industry has remained steady
from past few weeks. In the year 2014, there has been constant decline in the prices for
Methanol in Asian market. In the...
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Methanol prices in India on a stable mode
Methanol being one of the crucial chemical of Indian chemical industry has remained steady
from past few weeks. In the year 2014, there has been constant decline in the prices for
Methanol in Asian market. In the first week of January prices were assessed around USD
560/MTS for CFR India. This was the starting prices for the year 2014, since then prices have
been rolling down week over week. With closing of week on 4 July prices reached the level of
USD 295/MTS.
Supply from Iran has flooded the Indian markets in last six months. Methanol plants in Iran like
Fanavaran and Kharg are operating at full rates and most of the Iranian cargoes are either being
shipped to the Indian ports or at the Chinese ports. Supply has been so huge that domestic
manufacturers in India like GNFC have shut down their production. The company is unable to
afford the production at such low rate.
In the span of last six months on an average more than 30,000 MTS of Methan
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