Styrene Monomer Weekly Report 1 November 2019

Weekly Price Trend: 28-10-2019 to 1-11-2019

• 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 has reduced slightly for this week.
• On Friday domestic values were assessed around Rs.68/Kg for bulk quantity at Kandla and Rs.70/kg for Mumbai ports of India reduced by Rs.2/Kg by end of the week.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.68/Kg for Kandla and Rs. 70/kg Mumbai ports. Domestic prices reduced by end of the week.
• On other side, FOB Korea values for Styrene were assessed around USD 850-870/MT, heavily reduced by USD 30/MTS for this week. CFR China prices also reduced significantly for this week and were assessed at the level of USD 890-910/MT. South East Asia prices of SM were evaluated at USD 910/MT.
• Benzene the major source for aromatic products declined for this week. FOB Korea values for Benzene were assessed around USD 625/MT for this week, while CFR China prices were assessed at the level of USD 645/MT for this week.
• Indian markets are operating on reduced rate as country is festive mood. Market has not resumed its operations in full swing and will operate with full capacity Monday onwards.
• Moreover the political turmoil over the formation of government in Maharashtra state has been concern for the traders as well as business leaders.
• Oil prices steadied on Friday after a rough week, squeezed about 4 per cent lower by a combination of rising global supply and uncertain future demand.
• Worries over global economic growth, along with oil demand, continued to haunt the market as leaders from the United States and China continue to struggle to end a 16-month dispute that has roiled trade between the world's top two economies. "Concerns about the US-China trade dispute have come home to roost," said Stephen Innes, Asia Pacific market strategist at AxiTrader. "Framing this doom and gloom view is the massive US inventory build and the horrendous economic data released over.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $54.18/bbl. Prices have decreased by 0.88/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.38/bbl in compare to last closing price and was assessed around $60.23/bbl.

$1 = Rs. 70.81

Import Custom Ex. Rate USD/ INR: 72.30

Export Custom Ex. Rate USD/ INR: 70.60