MEK Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have plunged in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 94/Kg for Kandla port.

Total import at various ports of India March, 2017

Above chart represents the imported quantity of MEK in the month of March, 2017. Total imported quantity previous moth was around 1098mt. Last month at Kandla port higher quantity have been imported.

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 94/kg.
• This week in international market, prices of MEK also have plunged in compare to previous week.
• EU MEK imports decrease significantly in February, as per source.
• As per market source presently in domestic market MEK demand is moving with downward pace no major deals has been heard.
• This week oil prices have followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• As per report, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.

 $1 = Rs. 64.61
 Import Custom Ex. Rate USD/ INR: 65.55
 Export Custom Ex. Rate USD/ INR: 63.85