Styrene Monomer Weekly Report 11 Feb 2017

Weekly Price Trend: 06-02-2017 to 10-02-2017

• 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 fluctuated in compare to previous week and at the end of the week prices were assessed Rs.110/Kg for bulk quantity at Kandla and Rs 111/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.110/Kg for ex Kandla and Rs 111/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1500/MT.
• This week FOB Korea prices were assessed USD 1450-1470MTS prices have decreased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1460-1480/MTS, decreased in compare to previous week.
• For the current week SM prices have increased as feedstock benzene prices also have increased.
• With the increase in demand and oil prices SM prices have increased on account of this prices have increased.
• Crude oil prices have followed fluctuation through the week and at end of the week prices have increased after an unexpected draw in U.S. gasoline inventories pointed to higher demand in the world's biggest oil market.
• As per report U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday, closing crude values have increased.WTI on NYME closed at $53.00/bbl, prices have increased by $0.66/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.51/bbl in compared to last trading and was assessed around $55.63/bbl.
• Feedstock benzene prices have increased on account of tight supply from China.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 1030/mt and USD1045/mt respectively.

$1 = Rs. 66.88
Import Custom Ex. Rate USD/ INR: 68.40
Export Custom Ex. Rate USD/ INR: 66.70