Styrene Monomer Weekly Report 06 Oct 2018

Weekly Price Trend: 01-10-2018 to 05-10-2018

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 remained volatile at Kandla and at Mumbai ports and at the end of the week prices were assessed Rs.109/Kg for bulk quantity at Kandla and Rs 108/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.109/Kg for ex Kandla and Rs 108/kg Mumbai ports.
• This week International SM prices have decreased on bearish demand sentiments.
• South East Asia prices of Sm were evaluated at USD 1420/mt.
• CFR India SM prices were evaluates at USD 1350/mt.
• This week Asia petrochemical trades slow down on China's Golden Week holiday.
• On Thursday crude prices plunged due to rise in the inventory levels in US. But this hike was again pulled back on Thursday. Saudi Arabia and Russia has stated they will increase the crude supply but could not fill the void created by disruption of supply from Iran.
• With short supply from the price for crude is likely to reach a mark of $90 to $100 per barrel. On Wednesday, Saudi Energy Minister Khalid al-Falih said the kingdom was pumping near record levels and would raise output in November. Saudi Arabia is one of the few countries with the ability to significantly raise output. Many experts believe that the spar capacity of specified by Saudi is merely a statement but does exist in reality.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $74.33/bbl. Prices have decreased by $2.08/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.71/bbl in compare to last closing price and was assessed around $84.58/bbl.
• This week domestic and International prices of Phenol have increased sharply.
• This week Asian benzene prices up on firm crude,  ample supply to cap further gains.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 880/mt respectively.

 $1 = Rs. 73.78
 Import Custom Ex. Rate USD/ INR: 74.60
 Export Custom Ex. Rate USD/ INR: 72.90