Styrene Monomer Weekly Report 15 July 2017

Weekly Price Trend: 10-07-2017 to 14-07-2017
 

• 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 remained volatile in compare to previous week and at the end of the week prices were assessed Rs.81/Kg for bulk quantity at Kandla and Rs 82/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.81/Kg for ex Kandla and Rs 82/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1150/MT.
• This week FOB Korea prices were assessed USD 1160/MTS prices have increased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1180-1200/MTS, prices have increased in compare to previous week.
• Domestic SM prices have fluctuated this week market is moving with up velocity and upcoming market outlook anticipated to be positive.
• European styrene is on rising line this week on positive buying interest as well as support from increasing Asian SM prices.
• As per market report, for July and August prices players have heard bullishness in the market.
• This week Crude oil prices have followed up inclination as Saudi Arabia is going to cut exports of crude oil to the United States, but this is going to be a short-term effect on the market as the United States becomes much more energy independent.
• On Thursday, closing crude values have increased.WTI on NYME closed at $46.08/bbl, prices have increased by $0.59/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.68/bbl in compared to last trading and was assessed around $48.42/bbl.
• As per market source, the oil market could stay oversupplied for longer than expected due to rising production and limited output cuts by some OPEC exporters. Rising consumption in Germany and the United States was helping boost oil demand. OPEC said its production rose by 393,000 barrels per day in June to 32.611 million bpd.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD745/mt respectively.

$1 = Rs. 64.45
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95