MEK Weekly Report 3 June 2017

Weekly Price Trend: 29-05-2017 to 02-06-2017
 

• 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. 111/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 111/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.
• As per market players in domestic market material is not available and demand sentiments have been improving on account of this week prices have increased sharply.
• The recent rise in feedstock crude and naphtha prices has boosted Asian MEK prices. Prices are likely to be further bolstered by demand.
• This week oil prices have followed volatile trend. After OPEC, Russia and other producers extended their agreement to curb output by 1.8 million barrels a day for another nine months, to force a rebalancing of the oil market, the bearish tone in the oil sector resurfaced.

  $1 = Rs. 64.44
 Import Custom Ex. Rate USD/ INR: 65.35
 Export Custom Ex. Rate USD/ INR: 63.70