MEK Weekly Report 27 May 2017

Weekly Price Trend: 22-05-2017 to 26-05-2017

• 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 in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 103/Kg for Kandla port.

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 13/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• As per market players recently demand sentiments for MEK has been improving.
• Some market players have said that recently material is also available in limited quantity, on account of this in domestic market prices have increased.
• The rise in feedstock crude and naphtha prices has boosted Asian MEK prices.
• Prices are likely to be further bolstered by demand.
• During Q2, the spring weather is conducive for production and downstream paint and coating projects.
• Ramadhan, in June, are likely to increase stocking up activity.
• This week oil prices have followed volatile trend. On Thursday, Crude oil prices plunged more than 5 percent below $49 per barrel for its biggest daily drop in three weeks as OPEC members agreed to extend oil output cuts for nine months, crude oil traders pushed prices down by more than 4%.

 $1 = Rs. 64.44
 Import Custom Ex. Rate USD/ INR: 65.30
 Export Custom Ex. Rate USD/ INR: 63.60