Styrene Monomer Weekly Report 05 May 2018

Weekly Price Trend: 30-04-2018 to 04-05-2018

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 fluctuated at Kandla port 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.99/Kg for ex Kandla and Rs 99/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1410/MT.
• This week SM prices have increased as oil prices also have escalated.
• European prices will show big correction in May contract prices it is anticipated that prices will go down.
• This week Feedstock Benzene prices in east China fluctuated in lower range due to China's May Day holiday.
• Benzene inventories at shore tanks along eastern China continue to rise.
• This week benzene prices have plunged.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 845/mt respectively.
• This week crude oil prices have fluctuated. On Thursday, prices boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.43/bbl; prices have increased by $0.50/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.26/bbl in compared to last trading and was assessed around $73.62/bbl.
• As per report, U.S. oil production also rose to a record of 10.62 million barrels per day (bpd), a jump of more than a quarter since mid-2016. Looming over markets is the May 12 deadline by when President Donald Trump is due to decide whether or not to continue waiving U.S. sanctions against Iran.

 $1 = Rs. 66.86
 Import Custom Ex. Rate USD/ INR: 67.50

 Export Custom Ex. Rate USD/ INR: 65.80