MEG Weekly Report 24 Feb 2018

Weekly Price Trend: 19-02-2018 to 23-02-2018

• The above given graph focuses on the MEG price trend from 19th Feb to 23rd Feb 2018.  
• Prices reduced for this week on back of abundant supply in domestic market. Domestic prices were assessed at the level of Rs.70.5/Kg for bulk quantity.

Total import at various ports in the month of January 2018

The above chart depicts the import of MEG at various ports of India in the month of January 2018.

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 firm for bulk quantity. Prices were assessed at the level of Rs.70.5/Kg for bulk quantity.
• CFR China values were assessed around USD 1010-1030MT, increased by USD 10/MTS in compare to last week’s assessed values.
• CFR South East Asia assessed around USD 1025/MT increased by USD10/MTS in compare to last week’s closing values.
• FOB Korea values for Ethylene were assessed around USD 1240/MT, reduced by USD 15/MTS while CFR China values were assessed around USD 1295/MT, reduced by USD 10/MTS in compare to last week’s closing values.
• Propylene market has also remained firm in prices. FOB Korea values were assessed around USD 1055/MT while CFR China values were assessed around USD 1110MT. With maintenance scheduled in the month of January more progression in values will take place in next few months in Asian markets.
• This week oil prices have followed mixed trend. Oil prices rose on Thursday, on U.S. crude stocks unexpectedly declined and also by a drop in the dollar.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.77/bbl; prices have increased by $1.09/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.97/bbl in compared to last trading and was assessed around $66.39/bbl.
• Crude inventories had been forecast to rise 1.8 million barrels, as stocks seasonally increase when refineries cut intake to conduct maintenance. As per source, the unexpected fall in oil inventories in the U.S. should see support for crude oil prices remain strong.

$1 = Rs. 64.73
Import Custom Ex. Rate USD/ INR: 64.50
Export Custom Ex. Rate USD/ INR: 62.85