MEK Weekly Report 20 Jan 2018

Weekly Price Trend: 15-01-2018 to 19-01-2018
 

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have plunged in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 107/Kg for Kandla port.

Total import at various ports of India December, 2017

Above graph represents the imported quantity of MEK for the month of December, 2017. Last month total imported quantity was around 4804MT.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have plungred in compare to previous week and were assessed at the level of Rs 109/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• As per news, Japan’s Mitsui Chemicals plans to restart MMA unit in late January.
• Presently MEK market is moving with soft-to-firm velocity no major deals has been heard.
• Oil prices have followed volatile trend this week. On Thursday Oil rebounded after slipping below $69 a barrel, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $63.95/bbl; prices have decreased by $0.02/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.07/bbl in compared to last trading and was assessed around $69.31/bbl

  $1 = Rs. 63.85
 Import Custom Ex. Rate USD/ INR: 64.80
 Export Custom Ex. Rate USD/ INR: 63.10