Styrene Monomer Weekly Report 07 July 2018

Weekly Price Trend: 02-07-2018 to 06-07-2018

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 firm at Kandla and Mumbai ports and at the end of the week prices were assessed Rs.102/Kg for bulk quantity at Kandla and Rs 103/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.102/Kg for ex Kandla and Rs 103/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1360/MT.
• Asian SM price climbed. The price increased on bullish upstream energy values.
• In China on account of improved buying sentiments further supported the price rise.
• China's ZRCC runs SM unit at full roll after restart.
• China's Fujian Gulei Petrochemical plans to startup a new 600,000mt/year ethylbenzene-based styrene monomer plant at Zhangzhou city in 2020. The SM plant will be part of the Gulei Refining Integrated Project, anintegrated refinery and petrochemical complex, Badger said in a statement. The SM plant will be located at the Gulei Economic DevelopmentZone, in Zhangzhou city, Fujian province of China. Badger has recently been awarded several SM plant contracts in China,including Zhejiang Petroleum & Chemical's 1.2 million mt/year SM plant, whichwill be built on Daxiaoyushan Island, in Zhoushan city, Zhejiang province.
• This week oil prices have followed volatile trend. On Thursday Oil fell after U.S. President Donald Trump demanded OPEC cut crude prices, but the market found some support from an Iranian threat to block shipments through the Strait of Hormuz.
• On Thursday, closing crude values have plunged. WTI on NYME closed at $72.94/bbl; prices have plunged by $1.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange plunged by $ 0.37/bbl in compare to last closing price and was assessed around $77.39/bbl.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 835/mt respectively.

 $1 = Rs. 68.87
 Import Custom Ex. Rate USD/ INR: 69.70

 Export Custom Ex. Rate USD/ INR: 68.00