Styrene Monomer Weekly Report 14 Dec 2018

Weekly Price Trend: 10-12-2018 to 14-12-2018

• 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 stable for most of the week with sudden rise in the values by end of the week.
• On Friday domestic values were assessed around Rs.83/Kg for bulk quantity at Kandla and Rs. 84/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.83/Kg for Kandla and Rs 84/kg Mumbai ports.
• FOB Korea values for Styrene were assessed around USD 982/MT decreased by USD 8/MT in one week. On other side CFR china prices also decreased by USD 3/MT for this week.
• South East Asia prices of SM were evaluated at USD 1010/mt. In compare to other prices there has been decline in values for South East Asian market.
• Benzene FOB Korea prices declined by USD 40/MT in this week. FOB Korea values were assessed around USD 600/MT. On other side CFR China prices were assessed around USD 625/MT for this week.
• Price remained vulnerable for this week in crude market. Earlier prices slowed down on Wednesday with impact of publish of data by US of crude supplied.
• Crude prices stood up on back of easing trade tension as well as decline in inventory levels. Ease in trade discussion between China and US has been a relief across the global market.
• Further decline in US crude stock has also pulled up the prices and boosted the sentiment. The crude prices have direct impact on petrochemical prices. Earlier OPEC stated that in 2019 demand for crude would fall to 31.44 million barrels per day, 100,000 bpd less than predicted last month and 1.53 million less than it currently produces. 

 $1 = Rs. 71.97

 Import Custom Ex. Rate USD/ INR: 71.75

 Export Custom Ex. Rate USD/ INR: 70.05