Styrene Monomer Weekly Report 12 Aug 2017
Weekly Price Trend: 07-08-2017 to 11-08-2017
- 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 remained firm in compare to previous week and at the end of the week prices were assessed Rs.82/Kg for bulk quantity at Kandla and Rs 83/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.82/Kg for ex Kandla and Rs 83/kg Mumbai ports.
- CIF India prices were assessed at the level of USD 1200/MT.
- This week FOB Korea prices were assessed USD 1155/MTS prices have increased in compared to last week’s closing prices.
- CFR China prices were assessed in the range of USD 1170-1190/MTS, prices have increased in compare to previous week.
- This week SM prices have increased with the increase in demand from end users.
- This week crude oil prices have followed volatile trend and on Thursday market closed on weak note. Oil prices fell more than 1.5 percent on Thursday, to hit two-week lows, dragged lower by persistent oversupply worries despite a bigger-than-expected drawdown in U.S. crude inventories.
- On Thursday, closing crude values have decreased.WTI on NYME closed at $48.59/bbl, prices have decreased by $0.97/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.80/bbl in compared to last trading and was assessed around $51.90/bbl.
- Investors were also keeping a close eye on the broad market impact of tensions between the United States and North Korea. Recently Crude oil prices failed to hold recent gains, with a nervous market starting to doubt recent falls in inventories.
- As per report, OPEC is curbing output by about 1.2 million bpd, while Russia and other non-OPEC producers cut half as much, until March 2018
- Benzene inventories in eastern China drop after seven-week run-up.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD775/mt respectively.
$1 = Rs. 64.13
Import Custom Ex. Rate USD/ INR: 64.55
Export Custom Ex. Rate USD/ INR: 62.85
