Styrene Monomer Weekly Report 09 June 2018

Weekly Price Trend: 04-06-2018 to 08-06-2018

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 increased at Kandla port while at Mumbai port prices have increased and at the end of the week prices were assessed Rs.103/Kg for bulk quantity at Kandla and Rs 104/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.103/Kg for ex Kandla and Rs 104/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1440/MT.
• Abel Chemical will restart its Styrene Monomer unit in the month of June. Earlier the unit was shut down for annual maintenance on 13th April. The unit will resume its production in the first week of June 2018.  Unit is based at Jiangsu province of China and has the manufacturing capacity of 2,50,000 mt/year.
• ZRCC Lyondell will restart its Styrene Monomer unit in the month of June. Earlier the unit was shut down for annual maintenance on 20th April. The unit will resume its production on 10th June 2018.  Unit is based at Zhejiang province of China and has the manufacturing capacity of 6,20,000 mt/year.
• This week oil prices have followed volatile trend. On Thursday oil prices surged due to concern about a steep drop in exports from Venezuela and concerns OPEC may not raise production at its meeting this month.
• On Thursday, closing crude values have increased. WTI on NYME closed at $65.95/bbl; prices have increased by $1.22/bbl in compared to last closing prices. While Brent on Inter
• Continental Exchange increased by $1.96/bbl in compare to last closing price and was assessed around $77.32/bbl.
• As per report, Crude prices got an early lift on concerns about exports from Venezuela. Gains grew while OPEC would focus on balancing the market rather than on rolling back production caps.
• Asia’s benzene demand will go up in the month of July-August with the expected restart of downstream plants from turnarounds, with supply has plunged by scheduled shutdowns of two regional plants.
• Benzene inventories at shore tanks along eastern China fell.
• This week benzene prices have remained mixed.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 845/mt and USD 855/mt respectively.

 $1 = Rs. 67.50
 Import Custom Ex. Rate USD/ INR: 67.85

 Export Custom Ex. Rate USD/ INR: 66.15