Styrene Monomer Weekly Report 17 January 2020

Weekly Price Trend: 13-01-2020 to 17-01-2020

• 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 has significantly declined for this week.
• On Friday domestic values were assessed around Rs.74/Kg for bulk quantity at Kandla and Rs.75/kg for Mumbai ports of India by end of the week.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.74/Kg for Kandla and Rs. 75/kg Mumbai ports. Domestic prices have reduced significantly for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 900-920/MT, increased by USD 40/MT for this week. CFR China prices also improved for this week. Prices were assessed at the level of USD 935/MT. South East Asia prices of SM were evaluated at USD 900/MT.
• Oil prices remained steady on Friday as reports of sluggish economic growth in China, the world's biggest crude importer and it has already raised concerns about fuel demand and countered optimism from the signing of the Sino-U.S. trade deal earlier in the week.
• In the fourth quarter of 2019, the world's second-largest economy grew by an expected 6 per cent from a year earlier, while the full-year expansion was 6.1 per cent, the slowest in 29 years, as per the government data.
• On other side India and the United States will discuss India’s energy security and the Asian country buying increased volumes of U.S. crude oil when U.S. President Donald Trump and Indian Prime Minister Narendra Modi meet later this year.
• India was until recently Iran’s second-largest oil customer after China, but the U.S. sanctions on Iranian oil exports made India stop purchases of oil from Iran as refiners did not want to risk secondary U.S. sanctions if they continue doing business with Tehran.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.52/bbl. Prices have increased by 0.71/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.62/bbl in compare to last closing price and was assessed around $64.62/bbl.

$1 = Rs. 71.08

Import Custom Ex. Rate USD/ INR: 72.15

Export Custom Ex. Rate USD/ INR: 70.45