MEK Weekly Report 24 March 2018

Weekly Price Trend: 19-03-2018 to 23-03-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have increased in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 106/Kg for Kandla port.

Total import at various ports of India February, 2018

Above graph represents the prices of MEK for the month of February, 2018. Previous month total imported quantity was around 2830MT.

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 106/kg.
• This week in international market, prices of MEK have remained firm in compare to previous week.
• Presently MEK market is moving with soft-to-stable velocity no major deals and discussion has been heard.
• China’s Shandong Hongxu shuts MMA plant.
• The announcement of the ban by the Reserve Bank of India (RBI) on the issuance of letters of undertaking (LOUs) and letters of comfort (LOCs) this year has slowed down the country’s chemical market.
• This week crude oil prices have followed little volatility while increased through the week. On Thursday oil prices fell as investors booked profits after this week's rally, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.30/bbl; prices have decreased by $0.87/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.56/bbl in compared to last trading and was assessed around $68.91/bbl.

  $1 = Rs. 65.00
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15