Styrene Monomer Weekly Report 07 Oct 2017

Weekly Price Trend: 02-10-2017 to 06-10-2017

• 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 decreased in compare to previous week and at the end of the week prices were assessed Rs.91/Kg for bulk quantity at Kandla and Rs 92/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.91/Kg for ex Kandla and Rs 92/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1300/MT.
• This week FOB Korea prices were assessed USD 1220/MTS prices have plunged in compared to last week’s closing prices.
• This week styrene remained shut in China National Day holiday from 1st to 7th October.
• This week SM prices have plunged despite increase in the prices of benzene and crude oil.
• SM demand sentiments have been bearish in Asian market.
• This week oil prices have followed volatile trend. On Wednesday after slipping a bit oil prices rose on thurdsay on expectations that Saudi Arabia and Russia would extend production cuts, although record U.S. exports and the return of supply from a Libyan oilfield dragged on the market.
• On Thursday, closing crude values have increased.WTI on NYME closed at $50.79/bbl, prices have increased by $0.81/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $1.20/bbl in compared to last trading and was assessed around $57.00/bbl.

$1 = Rs. 65.38
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30