MEK Weekly Report 25 Feb 2017

Weekly Price Trend: 20-02-2017 to 24-02-2017

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have remained firm in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 100/Kg for Kandla port.

Total import at various ports of India January, 2017

Above chart represent the import quantity of MEK for the month of January 2017. In January total    imported quantity were around 2861mt.As per chart previous month at Kandla port higher quantity has been imported while at Hazira port imports were lesser.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have remained firm in compare to previous week and were assessed at the level of Rs 100/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• Presently MEK market is moving with up velocity as material is available in lesser quantity while demand is growing from end users.
• Oil prices remained volatile through the week. Some market players have said that oil prices will remain stuck in a narrow range as OPEC continues to cut output and U.S. drillers increase production. That will cap the recovery for oil stocks.
• The U.S. exported a good amount of crude oil and filling the gap in world markets created by OPEC cutbacks. OPEC certainly has to be concerned with U.S. oil producers eating into their market share. As per market analyst in near term the pressure on prices is going to stay in place and ultimately break out of this range to the downside.

 $1 = Rs. 66.83
 Import Custom Ex. Rate USD/ INR: 67.85
 Export Custom Ex. Rate USD/ INR: 66.15