Styrene Monomer Weekly Report 18 Feb 2017

Weekly Price Trend: 13-02-2017 to 17-02-2017

• 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 fluctuated in compare to previous week and at the end of the week prices were assessed Rs.109/Kg for bulk quantity at Kandla and Rs 111/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.109/Kg for ex Kandla and Rs 111/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1490/MT.
• This week FOB Korea prices were assessed USD 1480-1500/MTS prices have increased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1505-1525/MTS, increased in compare to previous week.
• For the current week SM prices have increased as feedstock benzene prices also have increased.
• With the increase in demand and oil prices SM prices have increased.
• Crude prices continue to oscillate in a shifting range as traders considered the conflicting influence of weakening of US dollar. There has been constant high supply in last few weeks along with rising levels in the US crude inventory levels.
• As per report U.S. commercial crude inventories rose, high fuel inventories and rising U.S. crude production meant oil markets would be over-supplied for some time, but that they would drain gradually, while the rest of the world already showing signs of tightness.
• The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it.
• Market Analysts said that in near term prices could be volatile as higher U.S. crude supplies balanced output cuts by the OPEC and other producing nations. Recently oil is in a very dangerous zone because market is moving with bearish velocity.
• On Thursday closing, there has been rise in crude values.WTI values increased by USD                            0.25/bbl and was assessed around $53.36. On other side there was slight decline in Brent value was observed. Brent crude prices reduced by $0.10/bbl and were assessed around $55.65/bbl.
• Feedstock benzene prices have increased on account of tight supply from China.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 1025/mt and USD1040/mt respectively.

$1 = Rs. 67.00
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15