MEK Weekly Report 17 June 2017

Weekly Price Trend: 12-06-2017 to 16-06-2017
 

• 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 remained firm in compare to previous week.
• This week MEK market have remained soft-to-firm no major deals and discussion has been heard.
• As per report, the outlook for the energy market will remain bearish. OPEC’s agreement with non-OPEC members “remains brittle as none of those participating are happy about the arrangement. In the U.S., the trend of rising production remains strong while gasoline demand has been soft so oil production is expected to continue to rise steadily this summer. High exports and production from other countries, including Russia and the United States, are also contributing to the ongoing glut.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $44.46/bbl, prices have decreased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $46.92/bbl.

  $1 = Rs. 64.42
 Import Custom Ex. Rate USD/ INR: 65.15
 Export Custom Ex. Rate USD/ INR: 63.50