MEK Weekly Report 7 Jan 2017

Weekly Price Trend: 02-01-2017 to 06-01-2017

• 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 prices have increasedand at the end of the week MEK prices were assessed at the level of Rs. 78/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have increased but in compare to previous week prices have increased and were assessed at the level of Rs 78/kg.
• This week in international market, prices of MEK have remained firm in compare to previous week.
• Presently domestic MEK prices have increased as imported quantity has been declined.
• Some market players are uncertain about upcoming market outlook due to this they have adopted wait and watch stances.
• Oil prices followed volatile inclination through the week. On Thursday oil prices have increased as Saudi Arabia had cut production to meet OPEC's agreement to cut output. Saudi Arabia cut oil output in January by at least 486,000 barrels a day to 10.06 million barrels a day.As per report, the U.S. crude inventories fell sharply by 7.1 million barrels in the week through Dec. 30 as refineries hiked output

 
 $1 = Rs. 67.96
 Import Custom Ex. Rate USD/ INR: 68.80
 Export Custom Ex. Rate USD/ INR: 67.15