Styrene Monomer Weekly Report 16 Dec 2017

Weekly Price Trend: 11-12-2017 to 15-12-2017

• 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 followed up trend in compare to previous week and at the end of the week prices were assessed Rs.98.5/Kg for bulk quantity at Kandla and Rs 98.5/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.98.5/Kg for ex Kandla and Rs 98.5/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1365/MT.
• This week SM prices have plunged in compare to previous week but for the current week prices have escalated while feedstock benzene prices have plunged.

Market players have said that on account of bullish demand sentiments from end users SM prices have escalated this week.

• This week FOB Korea prices were assessed USD 1310/MTS prices have decreased in compared to last week’s closing prices.
• This week crude oil prices have followed mixed trend. On Thursday oil prices rose as a pipeline outage in Britain continued to support prices despite forecasts showing global crude surplus in the beginning of next year.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.04/bbl; prices have increased by $0.44/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.87/bbl in compared to last trading and was assessed around $63.31/bbl.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 900/mt and USD 915/mt respectively.

 $1 = Rs. 64.04
 Import Custom Ex. Rate USD/ INR: 65.40

 Export Custom Ex. Rate USD/ INR: 63.70