Styrene Monomer Weekly Report 16 june 2018

Weekly Price Trend: 11-06-2018 to 15-06-2018

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 firm at Kandla and Mumbai ports and at the end of the week prices were assessed Rs.100/Kg for bulk quantity at Kandla and Rs 100/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.100/Kg for ex Kandla and Rs 100/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1460/MT.
• This week styrene prices have increased with the bullish buying sentiments from end users and increase in energy values.
• Styrene monomer market meanwhile, were mixed. While prompt supply remained extremely tight with latest inventory data from main ports in East China showing a week-on-week fall.
• As per report, restarts at China's Abel Chemical and Sinopec Zhenhai were expected to boost prompt cargo availability.
• This week crude oil prices have followed mixed trend. On Thursday oil prices were lower, facing pressure from evidence of rising U.S. output and uncertainty over the outlook for supply.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $66.89/bbl; prices have increased by $0.25/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.86/bbl in compare to last closing price and was assessed around $76.74/bbl.
• On Friday oil prices were little changed in early Asian trade, as investors eyed a key OPEC meeting in Vienna and Saudi Arabia and Russia.As per report, OPEC and Russia are expected to gradually increase production, but opinions about easing output caps are fragmented within OPEC ahead of its meeting next week. U.S. crude output hits record 10.9 million barrels per day, as per report.
• This week East China benzene inventories rise.
• Benzene inventories at shore tanks along eastern China fell.
• This week benzene prices have plunged.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 840/mt respectively.

 $1 = Rs. 68.01
 Import Custom Ex. Rate USD/ INR: 67.85

 Export Custom Ex. Rate USD/ INR: 66.15