Styrene Monomer Weekly Report 03 Feb 2018

Weekly Price Trend: 29-01-2018 to 02-02-2018

• 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 have increased in compare to previous week and at the end of the week prices were assessed Rs.99/Kg for bulk quantity at Kandla and Rs 99/kg for Mumbai ports of India

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 98/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1400/MT.
• This week Styrene monomer prices have escalated on upcoming Lunar holiday demand has been bullish.
• This week oil prices have followed volatile trend. Goldman Sachs on Thursday raised its 2018 oil price forecasts, projecting that Brent crude will soon top $80, fueled by blockbuster oil demand, a deal among big producers to limit output and U.S. drillers' inability to meet the world's growing energy appetite.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.80/bbl; prices have increased by $1.07/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $69.08/bbl.
• On Friday oil prices showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.
• Goldman recently raised its 2018 forecast for oil demand growth to 1.86 million barrels a day from 1.73 million barrels a day. it introduced its 2019 demand forecast at 1.6 million barrels a day but said economic growth around the world means consumption could be even stronger.
• Benzene inventory in east China declined on account of this prices have escalated.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 930/mt and USD 945mt respectively.

 $1 = Rs. 64.06
 Import Custom Ex. Rate USD/ INR: 64.50

 Export Custom Ex. Rate USD/ INR: 62.85