MEK Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

• 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. 120/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 120/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• As per market players in near term demand for MEK will go up on account of this MEK prices also will be higher in domestic market.
• Some market players have said that in recently material is available in lesser quantity in compare to demand which will be the result of escalation in the prices.
• This week oil prices have tumbled. In five days duration US oil prices have plunged around 7.5% while Brent oil have decreased 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• As per report, declining oil prices have helped U.S. and global energy companies get back into the investing but analyst said that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.

 $1 = Rs. 66.60
 Import Custom Ex. Rate USD/ INR: 67.65
 Export Custom Ex. Rate USD/ INR: 66.00