Styrene Monomer Weekly Report 12 July 2019

Weekly Price Trend: 08-07-2019 to 12-07-2019

• 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 has improved significantly for this week.
• On Friday domestic values were assessed around Rs.80/Kg for bulk quantity at Kandla and Rs.82/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.80/Kg for Kandla and Rs. 82/kg Mumbai ports. Domestic prices increased for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 1025-1045/MT, increased by USD 10/MT in this week. On other side CFR China prices also increased for this week. Prices were increased USD 10/MT for this week and were assessed at the level of USD 1075/MT for this week. South East Asia prices of SM were evaluated at USD 1050/MT.
• There has been increment in Benzene values as well in international market. Benzene the major source for SM has affected significantly SM values. FOB Korea values were assessed in the range of USD 700/MT, increased by USD 45/MT for this week. CFR China prices were assessed at the level of USD 705/MT, increased by USD 50/MT for this week.
• Crude oil prices rose 0.61 percent to Rs 4,157 per barrel in futures trade on July 12 as speculators raised their exposure, tracking a rebound in global markets.
• Non-OPEC crude oil supply will rise by 2.4 million bpd next year, OPEC said in its latest Monthly Oil Market Report.
• The cartel added that the rise would be driven by the addition of new pipeline capacity in North America, most likely meaning the United States as Canada’s pipeline woes continue and Mexico struggles to reverse declining production. In fact, OPEC mentioned the natural decline of production in Mexico would offset the effect of rising non-OPEC supply somewhat.
• It’s not just the U.S. that will expand production, however. New projects in Norway, Brazil and Australia will also contribute to the increase in non-OPEC supply.
• On Thursday day, closing crude values have decreased. WTI on NYME closed at $60.20/bbl. Prices have decreased by 0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 0.49/bbl in compare to last closing price and was assessed around $66.52/bbl. 

$1 = Rs. 68.68

Import Custom Ex. Rate USD/ INR: 69.75

Export Custom Ex. Rate USD/ INR: 68.05