Styrene Momomer Weekly Report 27 December 2019

Weekly Price Trend: 23-12-2019 to 27-12-2019 

• If we take a quick look at the above given weekly prices, it can be observed that for the current week prices of Styrene Monomer has remained firm with slight rise in prices for this week.
• On Friday domestic values were assessed around Rs.72/Kg for bulk quantity at Kandla and Rs.73/kg for Mumbai ports of India by end of the week.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.72/Kg for Kandla and Rs. 73/kg Mumbai ports. Domestic prices remained firm for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 855-875/MT, reduced by USD 10/MT for this week. CFR China prices also reduced slightly for this week. Prices were assessed at the level of USD 905/MT reduced by USD 5/MT for this week. South East Asia prices of SM were evaluated at USD 875/MT.
• Benzene the major source for aromatic products has increased significantly for this week. Price rise has been whooping for this week. FOB Korea values for Benzene were assessed around USD 735/MT for this week, increased by USD 60/MT for this week, while CFR China prices were assessed at the level of USD 640/MT for this week.
• On Thursday, closing crude values have increased. WTI on NYME closed at $61.68/bbl. Prices have increased by 0.57/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.72/bbl in compare to last closing price and was assessed around $67.92/bbl.
• Persistent oversupply of crude in the global oil and gas market has created a difficult situation for smaller oil and gas companies who must find ways to compete in a debt-laden, low-priced environment against state-run oil titans like Saudi Aramco and deep-pocketed oil giants such as Exxon.
• But the small oil and gas players—those private companies that are facing an uncertain future despite sitting atop a literal wealth of oil and gas in prolific US shale plays-may have just been handed their ticket out of trouble by the largest oil importer in the world, China. 

$1 = Rs. 71.36

Import Custom Ex. Rate USD/ INR: 71.90

Export Custom Ex. Rate USD/ INR: 70.20