MEK Weekly Report 23 Dec 2017

Weekly Price Trend: 18-12-2017 to 22-12-2017

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have increased sharply in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 108/Kg for Kandla port.

Total import at various ports of India November, 2017

Above chart shows the total imported quantity of MEK for the month of November 2017. Previous month total imported quantity was 2999MT. As per chart last month at Kandla port imports were higher while at Bombay port imported quantity was lesser.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have increased sharply in compare to previous week and were assessed at the level of Rs 108/kg.
• This week in international market, prices of MEK also have increased in compare to previous week.
• Presently MEK market is moving with up velocity demand sentiments have increased on bullish buying sentiments from end users.
• For next week market will remain close in Asia for Chrimas holiday on account of this MEK market will remain firm.
• This week oil prices have followed mixed trend and closed on higher note. On Thursday, Oil prices higher, erasing earlier losses as Britain's Forties pipeline in the North Sea was expected to restart in early January after repairs over Christmas. Forties is the largest of the five North Sea crudes that underpin Brent, a benchmark for oil trading in Europe, the Middle East, Africa and Asia.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.36/bbl; prices have increased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.34/bbl in compared to last trading and was assessed around $64.90/bbl.

  $1 = Rs. 64.04
 Import Custom Ex. Rate USD/ INR: 64.90
 Export Custom Ex. Rate USD/ INR: 63.20