MEK Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• 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. 102/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 102/kg.
• This week in international market, prices of MEK have increasedin compare to previous week.
• Presently MEK market is moving with soft velocity demand sentiments have been bearish from end users.
• Demand in Asia recently is probable to be sturdy, bolstered by strong downstream demand in inks, paints and coatings.
• US MEK demand should peak before the end of 2017 and begin to settle as the US Gulf Coast moves toward equilibrium following the disruptions of Hurricane Harvey.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.

  $1 = Rs. 64.04
 Import Custom Ex. Rate USD/ INR: 65.40
 Export Custom Ex. Rate USD/ INR: 63.70