Styrene Monomer Weekly Report 12 May 2018

Weekly Price Trend: 07-05-2018 to 11-05-2018

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 increased at Kandla port while at Mumbai port prices have remained firm and at the end of the week prices were assessed Rs.100/Kg for bulk quantity at Kandla and Rs 99/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.100/Kg for ex Kandla and Rs 99/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1430/MT.
• This week SM prices have increased as oil prices sharply have escalated and feedstock benzene prices also have increased.
• US President Donald Trump’s decision to pull out of the 2015 nuclear deal with Iran will have a lot of consequences for the global chemical industry, as well as for Iran’s domestic sector.
• China’s petrochemical imports from Iran are not expected to take a major hit upon the US’ re-imposition of sanctions against the Middle Eastern country.
• This week with the little volatility oil prices have escalated sharply. On Thursday as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $69.06/bbl; prices have decreased by $1.67/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.32/bbl in compared to last trading and was assessed around $74.85/bbl.
• The United States plans to impose new sanctions against Iran, which produces around 4 percent of global oil supplies, after dump an agreement reached in late 2015 which limited Tehran's nuclear ambitions in exchange for removing U.S.-Europe sanctions.
• This week Feedstock Benzene prices in east China rose due to profit gains in downstream sectors.
• Benzene inventories along eastern China slightly higher.
• This week benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 875/mt and USD 855/mt respectively.

 $1 = Rs. 67.33
 Import Custom Ex. Rate USD/ INR: 67.50

 Export Custom Ex. Rate USD/ INR: 65.80