Styrene Monomer Weekly Report 13 Oct 2018
Weekly Price Trend: 08-10-2018 to 12-10-2018
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 remained volatile at Kandla and at Mumbai ports and at the end of the week prices were assessed Rs.109/Kg for bulk quantity at Kandla and Rs 108/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.109/Kg for Kandla and Rs 108/kg Mumbai ports.
- This week International SM prices have remained same on bearish demand sentiments.
- South East Asia prices of SM were evaluated at USD 1415/mt.
- CFR India SM prices were evaluates at USD 1350/mt.
- Last week there was strong rally for crude prices and was expected to cross the mark of USD 100/bbl very soon. But this week scenario was totally different. Brent crossed the mark of $86 on Tuesday , lowered in last two days on back of investors sell off in the trading.
- The main story driving the oil market remains the loss of Iranian crude exports ahead of the full renewal of U.S. sanctions on Nov. 4. That deadline is still frightening large over the market and could help push oil prices back up.
- Indian Rupee has depreciated more than by 15% year-to-date. Higher crude oil prices, demand from defense and oil marketing firms have contributed to the latest bout of weakness. Rupee was overvalued on trade weighted real effective exchange rate.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $70.97/bbl. Prices have decreased by $2.20/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.83/bbl in compare to last closing price and was assessed around $80.26/bbl.
- This week domestic and International prices of Phenol have increased sharply.
- This week Asian benzene prices up on firm crude, ample supply to cap further gains.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 848/mt respectively.
$1 = Rs. 73.54
Import Custom Ex. Rate USD/ INR: 74.60
Export Custom Ex. Rate USD/ INR: 72.90
