MEK Weekly Report 15 April 2017

Weekly Price Trend: 10-04-2017 to 14-04-2017

• 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. 100/Kg for Kandla port.

Booking Scenario

INDIA & INTERNATIONAL

• For the current week, domestic prices of MEK have remained firm in compare to previous week and were assessed at the level of Rs 100/kg.
• This week in international market, prices of MEK also have remained firm in compare to previous week.
• This week oil prices oil prices have followed little volatility but overall it was strong week for crude. On Thursday that supply and demand in the global oil market were close to matching after a fall in stockpiles in developed countries in March.
• As per report, the market has been oversupplied for three years, prompting members of the OPEC and some non-OPEC producers to agree to cut output in the first six months of 2017 to rein in the glut. OPEC meets on May 25 to consider extending the cuts beyond June.
• U.S. production to continue rising, both onshore and offshore, which will act as a headwind for the market.

 $1 = Rs. 64.41
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.20