MEK Weekly Report 12 Aug 2017
Weekly Price Trend: 07-08-2017 to 11-08-2017
- 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. 88/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 88/kg.
- This week in international market, prices of MEK also have remained firm in compare to previous week.
- Presently MEK market is moving with soft-to firm velocity no major deals and discussion has been heard.
- Presently in Asian market MEK material availability has been limited as China exporting more material to Europe.
- This week crude oil prices have followed volatile trend and on Thursday market closed on weak note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories. On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85
