MEG Weekly Report 06 Jan 2018

Weekly Price Trend: 01-01-2018 to 05-01-2018

• The above given graph focuses on the MEG price trend from 1st Jan to 5th Jan 2018.  
• Prices remained unchanged for this week. Domestic prices were assessed at the level of Rs.67/Kg for bulk quantity.

Booking Scenario

The above chart shows the international prices of MEG and its comparison from the previous prices.
INDIA & INTERNATIONALs

• This week domestic prices remained stable for bulk quantity. Prices were assessed at the level of Rs.67/Kg for bulk quantity.
• CFR China values were assessed around USD 965-985MT, increased by USD 55/MTS in compare to last week’s assessed values.
• CFR South East Asia assessed around USD 980/MT.FOB Korea values for Ethylene were assessed around USD 1330/MT, while CFR China values were assessed around USD 1385/MT.
• Strong buying sentiments coupled with healthy demand has been dominating the Asian markets for price surge.
• Propylene market has also been witnessing firmness in prices.  FOB Korea values were assessed around USD 970/MT while CFR China values were assessed around USD 1035MT. With maintenance scheduled in the month of January more progression in values will take place in next few months in Asian markets.
• Market remained stable in the first week of this new year 2018. There has been no change in domestic values.
• There has been significant upsurge in crude values in international market. Current values are all time high in last one year. The political tension in Iran has been augmenting the hike in crude values.
• This week oil prices have remained little volatile but overall closed on higher note. On Thursday U.S. crude oil prices rise to the highest level in 2½ years as markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.01/bbl; prices have increased by $0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $68.07/bbl.
• As per market analyst, the market is getting more bullish on oil as inventory levels get closer to the five-year average. Geopolitical uncertainty in Iran, OPEC's third largest producer, is also helping to support the price as citizens are again protesting the government.

$1 = Rs. 63.37
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.80