Styrene Monomer Weekly Report 15 Feb 2019
Weekly Price Trend: 11-02-2019 to 15-02-2019
- 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 remained stable with no change in values.
- On Friday domestic values were assessed around Rs.96/Kg for bulk quantity at Kandla and Rs. 98/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.96/Kg for Kandla and Rs 98/kg Mumbai ports.
- FOB Korea values for Styrene were assessed around USD 1025/M reduced by USD 15/MT for this week. On other side CFR China prices also decreased by USD 1065/MT, again reduced by USD 15/MT in compare to last week’s closing values.
- South East Asia prices of SM were evaluated at USD 1055/MT. Here slight improvement in the values was observed.
- Benzene FOB Korea prices remained soft-to-stable for this week. FOB Korea values were assessed around USD 595/MT. On other side CFR China prices were assessed around USD 610/MT for this week.
- Moreover the ongoing Lunar vacation in China has also slowed down the trade and trading in international market.
- The recent terror attack on Indian military will have an adverse impact on Indian trade relation with neighbouring nation. Moreover such heinous attacks affect the economy of the country as well.
- Oil prices hit new high after a week long and has been the highest in this year. Withhold in the supply of crude from The Petroleum Exporting Countries (OPEC) and some non-affiliated suppliers including Russia has led to this hike in values.
- Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by U.S. sanctions against Venezuela and Iran as well as OPEC-led supply cuts.
- Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.97 a barrel by 0450 GMT. That was still 0.6 percent above the last close.
$1 = Rs. 71.22
Import Custom Ex. Rate USD/ INR: 72.65
Export Custom Ex. Rate USD/ INR: 70.95
