Styrene Monomer Weekly Report 11 Jan 2019
Weekly Price Trend: 07-01-2019 to 11-01-2019
- 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 have remained vulnerable for most of the week with rise in the values by end of the week.
- On Friday domestic values were assessed around Rs.82/Kg for bulk quantity at Kandla and Rs. 84/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.84/Kg for Kandla and Rs 82/kg Mumbai ports.
- FOB Korea values for Styrene were assessed around USD 950/MT increased by USD 10/MT in one week. On other side CFR China prices also decreased by USD 1000/MT, again increased by USD 10/MT for this week.
- South East Asia prices of SM were evaluated at USD 980/MT. Here also improvement in the values was observed.
- Benzene FOB Korea prices improved by USD 40/MT in this week. FOB Korea values were assessed around USD 600/MT. On other side CFR China prices were assessed around USD 580/MT for this week.
- Benzene values were expected to rise in this week on back of supply issues which in turn has affected the prices for Styrene prices.
- Crude prices remained volatile throughout this week. There has been rise decline in crude prices since December. The impact is seen all the major petrochemical prices. The experts believe it to be meltdown of some giant economies of the world.
- China is the major country Asia facing the huge slowdown in its economy. Oversupply with limited demand of petrochemical has been pushing the price to melt further.
- Experts do believe that now Brent and WTI are expected to trade between $60 and $70 a barrel by the second half of this year, unless a sharp global economic slowdown affects the outlook for global oil demand.
- While OPEC is expected to cut its output in 2019 in an attempt to balance the market, US production should maintain its upward momentum.
- Oil tripped on Friday amid concerns and apprehensions over the outlook for the global economy, but output cuts agreed by major exporters underpinned crude prices and kept markets on track for a strong weekly climb.
PLANT NEWS
SM unit shut down by Changzhou Dohow Chemical
- Changzhou Dohow Chemical has shut down its SM unit for maintenance turnaround. Changzhou Dohow Chemical is a subsidiary of New Solar group. The unit was shut down last week for maintenance schedule. Unit is likely to remain off-stream for around one month and will resume its production in the second week of January 2019.
- Unit is based at Jiangsu province of China and has the production capacity of 2, 00,000 mt/year.
$1 = Rs. 70.49
Import Custom Ex. Rate USD/ INR: 71.25
Export Custom Ex. Rate USD/ INR: 69.55
