MEG Weekly Report 12 Aug 2017

Weekly Price Trend: 07-08-2017 to 11-08-2017

• The above given graph focuses on the MEG price trend from 7th August to 11th August 2017.  
• Prices remained unchanged for this week. Domestic prices were assessed at the level of Rs.62/Kg for bulk quantity, with no change in compare to last week’s closing values.

Booking Scenario

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

• This week domestic prices remained unchanged. Prices were assessed at the level of Rs.62/Kg for bulk quantity.
• Rise in China values continue to dominate Chinese market. CFR China values were assessed around USD 860-880/MTS increased by USD 5/MT in compare to last week’s assessed values.
• FOB Korea Ethylene values were assessed in the range of 1005-1025/MTS while CFR China values were assessed in the range of USD 1085-1095/MTS.
• This week crude oil prices followed volatile trend and on Thursday market closed on weaker note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
• Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
• As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018.

$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85