MEK Weekly Report 10 Aug 2018

Weekly Price Trend: 06-08-2018 to 10-08-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have plunged in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 92/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have plunged in compare to previous week and were assessed at the level of Rs 93/kg.
• This week in international market, prices of MEK have plunged in compare to previous week.
• As per report, in domestic China market MEK prices rose by around 15-17% this week.
• This week the US-China trade war moved up to the next level when first the US and then China pledged to activate the second tranche of $16bn in 25% tariffs against each other on 23 August. For the first time chemicals are targeted by both countries.
• This week oil prices have followed volatile trend. On Thursday Crude prices held near lower levels set in the previous session, as the escalating China-U.S. trade dispute cast doubt on the outlook for oil demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $66.81/bbl. Prices have decreased by $0.13/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.21/bbl in compare to last closing price and was assessed around $72.07/bbl. Both benchmarks tumbled more than 3 percent after U.S. data showed a smaller-than-expected weekly draw in crude inventories and a surprise build of 2.9 million barrels in gasoline supplies.

  $1 = Rs. 68.87
 Import Custom Ex. Rate USD/ INR: 69.25
 Export Custom Ex. Rate USD/ INR: 67.55