Styrene Monomer Weekly Report 17 Feb 2018

Weekly Price Trend: 09-02-2018 to 16-02-2018

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 decreased in compare to previous week and at the end of the week prices were assessed Rs.95/Kg for bulk quantity at Kandla and Rs 95/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.95/Kg for ex Kandla and Rs 95/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1425/MT.
• This week SM prices have increased in international market on increase in oil prices.
• In China market have remained soft on account if Lunar New Year holiday.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 890/mt and USD 905mt respectively.
• This week oil prices have followed volatile trend. Oil prices extended gains on Thursday as a weak dollar and supportive comments from Saudi Arabia outweighed record U.S. production and rising inventories.
• On Thursday, closing crude values have remained mixed. WTI on NYME closed at $61.34/bbl; prices have increased by $0.74/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.03/bbl in compared to last trading and was assessed around $64.33/bbl.
• On Friday Oil prices edged higher as the dollar stood near a three-year low in subdued Asian trade, with many markets closed for the Lunar New Year holiday.
• As per market players, Oil is getting support from a rebound in global stock markets and a weak dollar, but the upside is limited due to a projection for rising U.S. production.

 $1 = Rs. 64.21
 Import Custom Ex. Rate USD/ INR: 64.50

 Export Custom Ex. Rate USD/ INR: 62.85