MEK Weekly Report 30 Dec 2017

Weekly Price Trend: 25-12-2017 to 29-12-2017

• 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. 108/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have increased sharply in compare to previous week and were assessed at the level of Rs 108/kg.
• This week in international market, prices of MEK have increased in compare to previous week.
• Presently MEK market is moving with up velocity demand sentiments have increased on bullish buying sentiments from end users.
• This week crude oil prices have remained fluctuating. As 2017 draws to a close, On Thursday oil prices increased on lifted by strong data from top importer China and on increased U.S. refining activity that drew more crude from inventories. Recently,  thin trading activity ahead of the New Year weekend.
• As per report, market condition has been tight due to ongoing supply cuts led by OPEC, as well as top producer Russia.
• On Thursday, closing crude values have increased. WTI on NYME closed at $59.84/bbl; prices have increased by $0.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.28/bbl in compared to last trading and was assessed around $66.72/bbl.

  $1 = Rs. 63.87
 Import Custom Ex. Rate USD/ INR: 64.90
 Export Custom Ex. Rate USD/ INR: 63.20