MEK Weekly Report 22 Sep 2018

Weekly Price Trend: 17-09-2018 to 21-09-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have remained firm in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 93/Kg for Kandla port.

Total import at various ports of India August, 2018

Above graph represents the imported quantity of MEK for the month of August. Last month total imports were around 6167MT.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have increased in compare to previous week and were assessed at the level of Rs 93/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• This week MEK prices have increased as market is preparing for peak demand season.
• China’s Shida Shenghua restarts MTBE plant.
• Crude prices are making new heights. On Thursday prices slightly eased with US president urging OPEC to bring prices down. Experts believe that Brent will soon cross the mark of USD 80 after gap of four years. US President would least want the crude prices to go high with mid election in next few months.
• The Iranian sanctions are making hard for the Asian countries which are the consumers of Iranian crude. Many buyers have already cut Iranian purchases ahead of the new regulations. It is unclear whether producers such as Saudi Arabia, Iraq and Russia can compensate for lost supply.
• The Organization of the Petroleum Exporting Countries and other producers, including Russia, meet on Sunday in Algeria to discuss how to allocate supply increases to offset the loss of Iranian barrels.

  $1 = Rs. 72.19
 Import Custom Ex. Rate USD/ INR: 73.65
 Export Custom Ex. Rate USD/ INR: 71.95