MEK Weekly Report 07 April 2018

Weekly Price Trend: 02-04-2018 to 06-04-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have increased in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 112/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have increased in compare to previous week and were assessed at the level of Rs 112/kg.
• This week in international market, prices of MEK also have remained firm in compare to previous week.
• In International market trading activity have been slower for MEK on account of this prices have remained firm.
• South Korea’s Lotte Chemical plans to shut MMA unit for maintenance.
• Presently MEK prices in domestic market have escalated. As per some market players on account of material shortage and bullish demand from end users prices have escalated.
• On Thursday, closing crude values have increased. WTI on NYME closed at $63.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.31/bbl in compared to last trading and was assessed around $68.33/bbl.
• As per report, U.S. crude production hit a new high, but that was not enough to change the overall bullishness. OPEC and its allies are collectively curbing 1.8 million barrels per day of crude output to help eliminate a global oil glut. The cuts run until the end of 2018 but Saudi Arabia has said they could be extended in some form into 2019.

  $1 = Rs. 64.96
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.20