Styrene Monomer Weekly Report 13 Jan 2018

Weekly Price Trend: 08-01-2018 to 12-01-2018

• 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 in compare to previous week and at the end of the week prices were assessed Rs.98/Kg for bulk quantity at Kandla and Rs 98.5/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 98.5/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1400/MT.
• This week Styrene Monomer price rise on bullish buying trends in China and gains recorded in upstream benzene values.
• Styrene Monomer unit has been shut down by SP Chemicals in an emergency situation. The unit was shut down abruptly on Wednesday due to some technical glitch. The issue may require a week or more to get sorted out. Unit is based at Taixing in Jiangsu province of China and has the manufacturing capacity of 3,20,000 mt/year.
• This week crude oil prices have followed up velocity. On Thursday Brent crude oil hit a more than three-year high breaking through the psychologically important $70 a barrel level for the first time since December 2014.
• On Thursday, closing crude values have increased. WTI on NYME closed at $63.80/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $69.26/bbl.
• Oil prices have been supported by stronger-than-expected demand fueled by worldwide economic growth, ongoing output limits by OPEC and Russia and a series of global events that have stoked geopolitical tension.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 895/mt respectively.

 $1 = Rs. 63.61
 Import Custom Ex. Rate USD/ INR: 64.50

 Export Custom Ex. Rate USD/ INR: 62.80