Styrene Monomer Weekly Report 10 Aug 2018

Weekly Price Trend: 06-08-2018 to 10-08-2018

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 and Mumbai ports and at the end of the week prices were assessed Rs.104/Kg for bulk quantity at Kandla and Rs 105/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.104/Kg for ex Kandla and Rs 105/kg Mumbai ports.
• This week International SM prices have increased on improved demand sentiments.
• This week SM prices increased due to constrained product availability in China market.
• CIF India prices were assessed at the level of USD 1395/MT.
• Taiwan Styrene Monomer is likely to resume its SM plant after brief maintenance schedule. Earlier the unit was shut down for annual maintenance in the second week of July. The SM based at Lin Yuan Kaohsiung in Taiwan and has the manufacturing capacity of 1,60,000 mt/year.
• As per report, For August European styrene prices are on an uptrend due to shortage of supply including a force majeure in the Netherlands, and logistical problems, sources said.
• SM prices have increased on the back of reduced availability, with talk of production disruption in one facility.
• Sources said that  reduced run rates due to persistently high temperatures in Europe, higher prices in Asia, logistics complications on the River Rhine due to low water levels as well as delays to US imports.
• This week oil prices have followed volatile trend. On Thursday Crude prices held near lower levels set in the previous session, as the escalating China-U.S. trade dispute cast doubt on the outlook for oil demand.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $66.81/bbl. Prices have decreased by $0.13/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.21/bbl in compare to last closing price and was assessed around $72.07/bbl. Both benchmarks tumbled more than 3 percent after U.S. data showed a smaller-than-expected weekly draw in crude inventories and a surprise build of 2.9 million barrels in gasoline supplies.
• This week benzene prices have increased.
• PetroChina northwest sales branch lifts benzene by CNY100/tonne.
• East China benzene inventories drop to 181,000 tonnes.
• China’s Sinopec raises benzene prices.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 885/mt respectively.

 $1 = Rs. 68.87
 Import Custom Ex. Rate USD/ INR: 69.25

 Export Custom Ex. Rate USD/ INR: 67.55