MEK Weekly Report 14 Oct 2017

Weekly Price Trend: 09-10-2017 to 13-10-2017

• 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. 96/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have remained firmin compare to previous week and were assessed at the level of Rs 96/kg.
• This week in international market, prices of MEK have remained firm in compare to previous week.
• Presently MEK market is moving with volatile velocity demand sentiments have been fluctuating from end users.
• As per market report, MEK demand in near term will remain bearish on account of festive holiday in domestic market.
• This week oil prices have followed volatile inclination. on Thursday  oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $50.60/bbl, prices have decreased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.69/bbl in compared to last trading and was assessed around $56.25/bbl.

  $1 = Rs. 64.93
 Import Custom Ex. Rate USD/ INR: 65.95
 Export Custom Ex. Rate USD/ INR: 64.30