MEG Weekly Report 28 April 2018

Weekly Price Trend: 23-04-2018 to 27-04-2018

• The above given graph focuses on the MEG price trend from 23rd April to 27th April 2018.  
• Prices remained firm for this week. Domestic prices were assessed at the level of Rs.72.5/Kg for bulk quantity.

Total import at various ports in the month of March 2018-MEG

The above table depicts the imports of MEG at various ports in the month of March 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.72.5/Kg for bulk quantity.
• CFR China values were assessed around USD 1000-1020/MT, reduced by USD 45/MT in one week. CFR South East Asia assessed around USD 1015/MT again reduced by USD 45/MT in last one week.
• FOB Korea values for Ethylene were assessed around USD 1305/MT, reduced by almost USD100/MT for this week while CFR China values were assessed around USD 1320/MT, while CFR South East Asia values were assessed around USD 1265/MT.
• On other side Propylene market has also increased for this week. FOB Korea values were assessed around USD 1045/MT while CFR China values were assessed around USD 1085MT.
• This week oil prices have followed little volatility at the end of the week prices have escalated. On Thursday oil prices increased, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and ongoing strong demand.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.19/bbl; prices have increased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $74.74/bbl.
• Venezuela's plunging output and looming U.S. sanctions against Iran come against a backdrop of strong demand, especially in Asia, the world's biggest oil consuming region. However, not all market indicators point towards tighter supplies. Soaring U.S. oil production and exports are holding back further price gains.

$1 = Rs. 66.66
Import Custom Ex. Rate USD/ INR: 66.70
Export Custom Ex. Rate USD/ INR: 65.00