MEK Weekly Report 31 March 2017

Weekly Price Trend: 27-03-2017 to 31-03-2017

• 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 unchanged 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 plunged 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.
• Recently MEK prices have increased as material is available in lesser quantity.
• As per market players MEK demand is gradually improving.
• This week with the little volatility prices have remained on the higher note with the expectation of extended supply cut. Brent and WTI crude both were assessed above $50 per barrel. Crude prices remain over 4 percent higher than they were on Tuesday. On Thursday prices have escalated as Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.
• Market players have said that oil prices will higher as  OPEC and non-OPEC oil production giant Russia would agree to continue their production cut deal seeking to drive prices higher.

 $1 = Rs. 64.85
 Import Custom Ex. Rate USD/ INR: 66.20
 Export Custom Ex. Rate USD/ INR: 64.50