Styrene Monomer Weekly Report 18 Jan 2019

Weekly Price Trend: 14-01-2019 to 18-01-2019

• 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 stable for most of the week with no change in prices.
• On Friday domestic values were assessed around Rs.83/Kg for bulk quantity at Kandla and Rs. 85/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.83/Kg for Kandla and Rs 85/kg Mumbai ports.
• FOB Korea values for Styrene were assessed around USD 960/MT increased by USD 10/MT in one week. On other side CFR China prices also decreased by USD 1010/MT, again increased by USD 10/MT for this week.
• South East Asia prices of SM were evaluated at USD 990/MT. Here also improvement in the values was observed.
• Benzene FOB Korea prices remained firm for this week. FOB Korea values were assessed around USD 600/MT. On other side CFR China prices were assessed around USD 580/MT for this week.
• Benzene values were expected to rise in this week on back of supply issues which in turn has affected the prices for Styrene prices.
• Oil prices remained vulnerable throughout this week. With concerns over surging in crude production lacklustre in demand crude prices declined on Thursday. The scenario was completely different on Friday.
• On other side OPEC has also cut down its production significantly for this month. Even as OPEC and allied exporters cut production, however, U.S. output has surged close to 12 million bpd in the latest week, and some traders and investors are concerned that growth in global supply this year will outpace demand.
• OPEC cut oil output sharply in December before a new accord to limit supply took effect on Jan. 1, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand. 

$1 = Rs. 71.12

Import Custom Ex. Rate USD/ INR: 72.10

Export Custom Ex. Rate USD/ INR: 70.40