Styrene Monomer Weekly Report 10 Feb 2018

Weekly Price Trend: 05-02-2018 to 09-02-2018

• 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 decreased 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.

Total Imports from January to December 2017

Above graph represents the total imported quantity of Styrene Monomer from January to December. As per graph in 2017 Total imported quantity was around 948600MT. In the month of July higher quantity has been imported while in October, imports were lesser.

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 1430/MT.
• This week SM prices plunged bearish buying trends in China ahead of the Lunar New Year holidays and drop in upstream benzene values.
• This week crude oil prices have followed weak trend. Oil prices fell sharply after the U.S. government reported crude stockpiles rose by 1.9 million barrels. The increasing U.S. oil production and crude stockpiles, and stock market sell-off, piled pressure on oil prices this week. A stronger dollar has also been a prevailing factor the decline. But the supply dynamics are working against a sustained price rally.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $61.15/bbl; prices have decreased by $0.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.70/bbl in compared to last trading and was assessed around $64.81/bbl.
• Benzene inventory in east China declined on account of this prices have escalated.
• Benzene inventory levels in east China have augmented on account of more arrivals and lesser demand.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 895/mt and USD 910mt respectively.

 $1 = Rs. 64.40
 Import Custom Ex. Rate USD/ INR: 64.50

 Export Custom Ex. Rate USD/ INR: 62.85