Styrene Monomer Weekly Report 11 March 2017

Weekly Price Trend: 06-03-2017 to 10-03-2017

• 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 plunged in compare to previous week and at the end of the week prices were assessed Rs.104/Kg for bulk quantity at Kandla and Rs 106/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 106/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1430/MT.
• This week FOB Korea prices were assessed USD 1260-1280/MTS prices have decreased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1290-1310/MTS, prices decreased in compare to previous week.
• Presently with the plunge in demand sentiments SM prices also have plunged.
• As per news recently in China plant operating status has been round up.
• Presently SM market is moving with soft-to-firm velocity no major deals and discussion has been heard.
• For the current week SM prices have decreased as feedstock benzene prices also have decreased.
• This week oil prices have tumbled. In five days duration US oil prices have plunged around 7.5% while Brent oil have decreased 6.6% as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut.
• As per report, declining oil prices have helped U.S. and global energy companies get back into the investing but analyst said that there's not enough money going into longer-term projects and if things don't change, oil prices could spike and supply could be short.
• Market players anticipate that OECD oil stocks to decline significantly this year helped by the large OPEC cuts and robust global demand growth, to consider the recent drop in crude oil prices to be a good opportunity to enter into bullish option structures.
• On Thursday, closing crude values have plunged.WTI on NYME closed at $49.28/bbl, prices have decreased by $1.00/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.92/bbl in compared to last trading and was assessed around $52.19/bbl.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD870/mt respectively.

$1 = Rs. 66.60
Import Custom Ex. Rate USD/ INR: 67.65
Export Custom Ex. Rate USD/ INR: 66.00