MEK Weekly Report 01 Sep 2018

Weekly Price Trend: 27-08-2018 to 31-08-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have decreased in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 91/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have decreased in compare to previous week and were assessed at the level of Rs 91/kg.
• This week in international market, prices of MEK have remained firm in compare to previous week.
• This week MEK prices have remained firm as market is moving with soft velocity on account of seasonal silence.
• China’s Dongming Huayi Yuhuang to restart MMA unit early Sep.
• Some market players have said that as the rainy season will go off demand from downstream sectors will escalate.
• This week oil prices have followed volatile trend. On Thursday oil prices increased due to extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $70.25/bbl. Prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.63/bbl in compare to last closing price and was assessed around $77.77/bbl.
• Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S. sanctions restrict crude exports from Iran.

  $1 = Rs. 70.99
 Import Custom Ex. Rate USD/ INR: 71.10
 Export Custom Ex. Rate USD/ INR: 69.40