MEK Weekly Report 10 June 2017

Weekly Price Trend: 05-06-2017 to 09-06-2017

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have remained firm in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 121/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have remained firm in compare to previous week and were assessed at the level of Rs 121/kg.
• This week in international market, prices of MEK have plunged in compare to previous week.
• As per market players presently on account of material shortage in domestic market MEK prices sharply have increased.
• Presently MEK market is moving with soft velocity no major deals has been heard only need based material are buying buyers.
• This week crude oil prices followed volatile trend with downward velocity. On Thursday oil prices fell due to an unexpected surge in U.S. inventories from signs of rising output in Libya and Nigeria to the crude market, as two OPEC members exempt from production
• Market analyst have said that oil market is anticipated to be bullish for the second half of this year, based on supply and demand balances and the rebalancing is also going to start in the second half. But if Nigerian and Libyan production is picking up as well as they are now, then slowly things will be different.

  $1 = Rs. 64.24
 Import Custom Ex. Rate USD/ INR: 65.35
 Export Custom Ex. Rate USD/ INR: 63.70