Styrene Monomer Weekly Report 17 March 2018
Weekly Price Trend: 12-03-2018 to 16-03-2018
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 at Kandla port in compare to previous week and at the end of the week prices were assessed Rs.94/Kg for bulk quantity at Kandla and Rs 96/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.94/Kg for ex Kandla and Rs 96/kg Mumbai ports.
- CIF India prices were assessed at the level of USD 1355/MT.
- Styrene monomer market continues to fall in China market. CFR China prices reduced by USD 25/MTS and were assessed in the range of USD 1325-1345/MT. Market experts believe that this slowdown will continue in days to come. Market confidence is weak. Offers of spot goods are at 10,000yuan/mt. Bids and offers of H2 Mar goods are at 9,800yuan/mt and 9,950yuan/mt. Bids and offers of H2 Apr goods are at 9,850yuan/mt and 9,950yuan/mt.
- On Thursday, closing crude values have increased. WTI on NYME closed at $61.19/bbl; prices have increased by $0.23/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compared to last trading and was assessed around $65.12/bbl.
- Rising global oil demand, along with supply constraints from the OPEC, has helped keep oil above $60 a barrel.
- As per report, global oil demand is expected to pick up this year but supply is growing at a faster pace, leading to a rise in inventories in the first quarter of 2018. U.S. oil output hit a record 10.38 million barrels per day. OPEC expects to lose market share as output from non-OPEC nations soars.
- As per report, East China benzene plunged on weak SM market.
- This week SM prices have decreased in international market.
- Feedstock benzene prices have decreased in Asian market this week.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 845/mt and USD 855/mt respectively.
$1 = Rs. 64.93
Import Custom Ex. Rate USD/ INR: 65.80
Export Custom Ex. Rate USD/ INR: 64
