Styrene Monomer Weekly Report 07 April 2018

Weekly Price Trend: 02-04-2018 to 06-04-2018

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 escalated at Kandla port in compare to previous week and at the end of the week prices were assessed Rs.94/Kg for bulk quantity at Kandla and Rs 95/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.94/Kg for ex Kandla and Rs 95/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1350/MT.
• This week SM prices have escalated on increase in energy value.
• Nippon steel is planning to restart its SM plant its is located in Japan.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 835/mt respectively.
• This week crude oil prices have remained volatile. On Thursday oil prices increased from gains in U.S. equities markets as trade tensions between China and the United States eased, but the advance was limited by strength in the dollar.
• On Thursday, closing crude values have increased. WTI on NYME closed at $63.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.31/bbl in compared to last trading and was assessed around $68.33/bbl.
• As per report, U.S. crude production hit a new high, but that was not enough to change the overall bullishness. OPEC and its allies are collectively curbing 1.8 million barrels per day of crude output to help eliminate a global oil glut. The cuts run until the end of 2018 but Saudi Arabia has said they could be extended in some form into 2019.

 $1 = Rs. 64.96
 Import Custom Ex. Rate USD/ INR: 65.90
 Export Custom Ex. Rate USD/ INR: 64.00