Styrene Monomer Weekly Report 13 December 2019

Weekly Price Trend: 09-12-2019 to 13-12-2019

•  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 remained firm with no changes in the price for this week.
• On Friday domestic values were assessed around Rs.70/Kg for bulk quantity at Kandla and Rs.71/kg for Mumbai ports of India by end of the week.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.70/Kg for Kandla and Rs. 71/kg Mumbai ports. Domestic prices firm for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 850-870/MT, increased by USD 10/MT for this week. CFR China prices also improved for this week. Prices were assessed at the level of USD 895/MT increased by USD 5/MT for this week. South East Asia prices of SM were evaluated at USD 875/MT.
• Benzene the major source for aromatic products also increased for this week. FOB Korea values for Benzene were assessed around USD 709/MT for this week, increased by USD 9/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
• Oil prices extended gains this week. There has been hike in values as the United States and China moved closer to a resolution to the 18-month trade war between the world's two biggest economies that has raised big questions about global demand for crude.
• While a trade deal that would end uncertainty could provide a shot in the arm for oil demand in the near term, concerns continue to hover about the demand profile amid ample supplies going forward.
• In the meantime the White House has agreed to suspend some tariffs on Chinese goods and reduce others in return for Beijing's pledge to hike purchases of US farm products in 2020.
• On Thursday, closing crude values have increased. WTI on NYME closed at $59.18/bbl. Prices have increased by 0.42/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.48/bbl in compare to last closing price and was assessed around $64.20/bbl.

$1 = Rs. 70.81

Import Custom Ex. Rate USD/ INR: 72.40

Export Custom Ex. Rate USD/ INR: 70.70