Styrene Monomer Weekly Report 14 Oct 2017

Weekly Price Trend: 09-10-2017 to 13-10-2017

• 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 decreased in compare to previous week and at the end of the week prices were assessed Rs.87/Kg for bulk quantity at Kandla and Rs 88/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.87/Kg for ex Kandla and Rs 88/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1260/MT.
• This week FOB Korea prices were assessed USD 1160/MTS prices have plunged in compared to last week’s closing prices.
• SM demand sentiments have been bearish in Asian market.
• China's domestic styrene monomer prices fell sharply on thin buying interests and amid a build-up in inventory, after a week-long holiday in October 1-8 for National Day and Mid-Autumn Festival.
• As per report, buying from downstream players were lukewarm as most had bought enough SM in H2 Sep due to concerns about Jiangsu port restrictions.
• SM tank inventory in East China main ports increased 33.4kt from end Sep to 85.8kt on Oct 11.
• As per market report, SM market is likely to keep weak in Oct.
• This week oil prices have followed volatile inclination. on Thursday  oil prices rebounded from earlier losses, but ended lower on the day, after the Energy Department reported a larger-than-expected decline in U.S. inventories and a falloff in weekly production.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $50.60/bbl, prices have decreased by $0.70/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.69/bbl in compared to last trading and was assessed around $56.25/bbl.
• As per report, the global outlook for oil markets in 2018 could put a dampener on hopes for higher prices. Market players said that supply growth in the final three months of the year would be supportive for oil prices in the fourth quarter. Oil prices could climb close to $60 a barrel in the "very short run."

$1 = Rs. 64.93
Import Custom Ex. Rate USD/ INR: 65.95
Export Custom Ex. Rate USD/ INR: 64.30