MEK Weekly Report 31 March 2018

Weekly Price Trend: 26-03-2018 to 30-03-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have decreased in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 104/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have decreased in compare to previous week and were assessed at the level of Rs 104/kg.
• This week in international market, prices of MEK also have plunged in compare to previous week.
• In International market trading activity have been slower for MEK on account of this prices have plunged.
• Presently MEK market is moving with soft-to-stable velocity no major deals and discussion has been heard.
• This week crude oil prices have followed weak trend but on Thursday oil prices have escalated by 1 percent as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $64.94/bbl; prices have increased by $0.56/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $70.27/bbl.
• Market players said that strong compliance on supply cuts from members of The OPEC and allies like Russia have supported prices. OPEC sources said the group and its allies are likely to keep their deal on cutting output for the rest of 2018 when they meet in June.
• As per market report, China was taking its first steps to pay for imported crude oil in yuan instead of the U.S. dollar. This week marked the launch of the Shanghai crude oil futures

  $1 = Rs. 65.17
 Import Custom Ex. Rate USD/ INR: 65.80
 Export Custom Ex. Rate USD/ INR: 64.15