Styrene Monomer Weekly Report 09 Dec 2017

Weekly Price Trend: 04-12-2017 to 08-12-2017

• 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 followed firm trend in compare to previous week and at the end of the week prices were assessed Rs.95/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.95/Kg for ex Kandla and Rs 95/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1360/MT.
• This week FOB Korea prices were assessed USD 1325/MTS prices have increased in compared to last week’s closing prices.
• SM prices have escalated on god demand sentiments from end users and on account of plant shut down material is available in limited amount.
• SM unit has been shut down for maintenance in Malaysia by Idemitsu. The unit has resumed its annual maintenance schedule. The unit is likely to remain off-stream for around 45 days. The unit may resume its production in mid of January 2018. Unit is based at Pasir Gudang in Malaysia and has the production capacity of 2,40,000 mt/year.
• On Friday oil prices dipped as the U.S. dollar strengthened, although OPEC-led supply cuts are seen supporting markets going into next year.
• As per market players, Soaring U.S. output threatens to undermine efforts led by the OPEC and Russia to bring production and demand into balance following years of oversupply. The market suggests that the bull market is not as strong as earlier predicted. Oil prices saw a sharp 2.9 percent decline after the US published its inventory data. Analysts expect that oil prices to move in a price band of USD 45 to USD 60 for the calendar year 2018.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 915/mt and USD 910/mt respectively.

 $1 = Rs. 64.46
 Import Custom Ex. Rate USD/ INR: 65.40

 Export Custom Ex. Rate USD/ INR: 63.70