Styrene Monomer Weekly Report 1 March 2019

Weekly Price Trend: 25-02-2019 to 01-03-2019

• 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 remained highly vulnerable.
• On Friday domestic values were assessed around Rs.92/Kg for bulk quantity at Kandla and Rs.94/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.92/Kg for Kandla and Rs 94/kg Mumbai ports. Domestic increased by Rs.7/Kg in the span of one week.’
• FOB Korea values for Styrene were assessed around USD 1025/M with no change in international market. On other side CFR China prices also decreased by USD 1060/MT, remained unchanged for this week. South East Asia prices of SM were evaluated at USD 1055/MT. Here slight improvement in the values was observed.
• Benzene FOB Korea prices reduced for this week. FOB Korea values were assessed around USD 610/MT. On other side CFR China prices were assessed around USD 625/MT for this week.
• The ongoing border tensions and war like situations between India and Pakistan had an adverse impact on Indian trade relation with neighbouring nation. Moreover such heinous attacks affect the economy of the country as well.
• Oil prices rose on Friday as markets tightened amid output cuts by producer club OPEC, but surging U.S. supply and a global economic slowdown prevented crude from climbing further.
• In Venezuela, oil exports have plunged by 40 percent to around 920,000 barrels per day (bpd) since the U.S. government slapped sanctions against its petroleum industry on Jan. 28.
• This drop comes as the Organization of the Petroleum Exporting Countries (OPEC), of which Venezuela is a founding member, has led efforts since the start of the year to withhold around 1.2 million bpd of supply to prop up prices.
• Moreover the weak results from China has also affected the global economy. China's February factory activity fell for a third month as the world's second-largest economy continued to struggle with weak export orders, a private survey showed on Friday. 

PLANT NEWS 

Styrene Monomer unit shut down by GPPC

• Taiwan’s Grand Pacific Petrochemical Corporation will shut down its SM unit for maintenance turnaround. The unit will go off-stream next week for around 3-4 weeks for scheduled maintenance.
• Unit is based at Kaohsiung and has the production capacity of 2,50,000 mt/year. The company has also other unit at same location with capacity of 130,000 tonne/year. 

$1 = Rs. 70.85

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95