MEK Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017

• 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. 83/Kg for Kandla port.

Total import at various ports of India July, 2017

Above chart represents the total imported quantity of MEK for the month of July 2017. Last month total imports were around 8444mt. As per chart previous month at Kandla port imports were higher while at Hazira port imported quantity 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 83/kg.
• This week in international market, prices of MEK also have remained stable in compare to previous week.
• Presently MEK market is moving with weak velocity no major deals and discussion has been heard.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico. 
• The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.

  $1 = Rs. 64.03
 Import Custom Ex. Rate USD/ INR: 65.15
 Export Custom Ex. Rate USD/ INR: 63.45