MEK Weekly Report 15 Sep 2018

Weekly Price Trend: 10-09-2018 to 14-09-2018

• 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. 93/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 93/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• This week MEK prices have increased as market is preparing for peak demand season.
• SAMAC to shut MMA facility in Saudi Arabia.
• aiwan’s FPC to shut MMA plant in Nov.
• Oil prices crossed the levels of USD80 by mid of the week, later it fell by more than 2% on Thursday. This hike was the highest in last four months. The international Energy Agency has already warned that the oil market is tightening at the moment and world oil demand would soon reach 100 million barrels per day (bpd) in the next three months, global economic risks were mounting.
• U.S. companies in China are being hurt by tariffs in the growing trade war between Washington and Beijing, according to a survey, prompting U.S. business lobbies to urge President Donald Trump's administration to reconsider its approach.
• The White House has invited Chinese officials to restart trade talks just as it prepares to escalate a trade war with China with tariffs on $200 billion worth of Chinese goods.

  $1 = Rs. 71.84
 Import Custom Ex. Rate USD/ INR: 72.55
 Export Custom Ex. Rate USD/ INR: 70.85