MEK Weekly Report 21 July 2018

Weekly Price Trend: 16-07-2018 to 20-07-2018

• 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. 95/Kg for Kandla port.

Total import at various ports of India June, 2018

Above graph represents the total imported quantity of MEK for the month of June 2018. As per graph last month total imports was around 7941MT. Last month at Kandla port imports were higher.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have plunged in compare to previous week and were assessed at the level of Rs 95/kg.
• This week in international market, prices of MEK have remained firm in compare to previous week.
• This week MEK prices have remained firm with firm buying sentiments in International market.
• Presently MEK demand sentiments have remained soft on account of seasonal pause.
• This week oil prices have followed mixed trend. On Thursday, Brent crude fell as concerns about mounting supply returned after a brief rally on comments that Saudi Arabia's exports would fall in August. Crude also strengthened on forecasts that inventories at the U.S. oil delivery hub for WTI in Cushing, Oklahoma fell 1.8 million barrels, or 6.2 percent.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $69.46/bbl; prices have increased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.32/bbl in compare to last closing price and was assessed around $72.58/bbl.

  $1 = Rs. 68.87
 Import Custom Ex. Rate USD/ INR: 69.60
 Export Custom Ex. Rate USD/ INR: 67.90