Styrene Monomer Weekly Report 10 January 2020
Weekly Price Trend: 06-01-2020 to 10-01-2020
- 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 improved for this week.
- On Friday domestic values were assessed around Rs.78/Kg for bulk quantity at Kandla and Rs.79/kg for Mumbai ports of India by end of the week.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.78/Kg for Kandla and Rs. 79/kg Mumbai ports. Domestic prices remained firm for this week.
- On other side, FOB Korea values for Styrene were assessed around USD 860-880/MT, increased by USD 10/MT for this week. CFR China prices also improved slightly for this week. Prices were assessed at the level of USD 905/MT. South East Asia prices of SM were evaluated at USD 900/MT.
- Benzene the major source for aromatic products also remained variable this week. FOB Korea values for Benzene were assessed around USD 715/MT for this week, while CFR China prices were assessed at the level of USD 740/MT for this week.
- The market shifted its focused towards rising U.S. crude stocks and away from fears of an imminent escalation of conflict between the United States and Iran.
- There was initial fall in the prices on Wednesday, prices were seen some rise on Thursday. During European trading hours Iranian media carried reports of military commanders speaking of further action aimed at expelling U.S. troops from the region.
- With growing geopolitical tensions appear to enter a new equilibrium, the overall supply conditions in the market tend to favour oil reverting lower.
- On Thursday closing crude values have decreased. WTI on NYME closed at $59.56/bbl. Prices have decreased by 0.05/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.07/bbl in compare to last closing price and was assessed around $65.37/bbl.
$1 = Rs. 70.93
Import Custom Ex. Rate USD/ INR: 72.15
Export Custom Ex. Rate USD/ INR: 70.45
