Styrene Monomer Weekly Report 18 June 2018

Weekly Price Trend: 13-08-2018 to 17-08-2018

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 remained volatile at Kandla and Mumbai ports and at the end of the week prices were assessed Rs.103/Kg for bulk quantity at Kandla and Rs 104.5/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.103/Kg for ex Kandla and Rs 104.5/kg Mumbai ports.
• This week International SM prices have decreased on bearish demand sentiments.
• Presently SM market is moving with soft-to-stable velocity.
• This week crude oil prices have followed volatile trend. On Friday Crude prices edged higher, but were heading for yet another weekly decline on worries that oversupply would weigh on the U.S. market and that trade disputes and slowing global economic growth would slow demand for oil.
• On Friday, closing crude values have increased. WTI on NYME closed at $65.91/bbl. Prices have increased by $0.45/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.40/bbl in compare to last closing price and was assessed around $71.43/bbl.
• As per analysts, despite the bearish factors, prices were prevented from falling further because of U.S. sanctions against Iran, which target the financial sector from August and will include petroleum exports from November.
• This week benzene prices have increased.
• US spot benzene prices rise on healthy demand.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 885/mt and USD 895/mt respectively.

 $1 = Rs. 70.15
 Import Custom Ex. Rate USD/ INR: 71.10

 Export Custom Ex. Rate USD/ INR: 69.40