MEK Weekly Report 04 August 2018

Weekly Price Trend: 30-07-2018 to 03-08-2018

• The above graph shows the weekly price trend of MEK for the current week.
• As per the above graph, this week MEK prices have remained firm in compare to previous week and at the end of the week MEK prices were assessed at the level of Rs. 93/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 93/kg.
• This week in international market, prices of MEK have plunged in compare to previous week.
• This week MEK prices have plunged with weak buying sentiments in International market.
• Presently MEK demand sentiments have remained soft on account of seasonal pause.
• This week oil prices have followed mixed trend. On Thursday oil prices traded slightly higher, reversing course after a report that crude stockpiles at the U.S. storage hub at Cushing, Oklahoma fell in the latest week.U.S. stockpiles have been in the spotlight because they rose unexpectedly last week, stoking fears that the market is becoming oversupplied.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.96/bbl. Prices have increased by $1.30/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.06/bbl in compare to last closing price and was assessed around $73.45/bbl.

  $1 = Rs. 68.60
 Import Custom Ex. Rate USD/ INR: 69.25
 Export Custom Ex. Rate USD/ INR: 67.55