Styrene Monomer Weekly Report 19 Aug 2017

Weekly Price Trend: 14-08-2017 to 18-08-2017
 

• 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 remained firm in compare to previous week and at the end of the week prices were assessed Rs.81/Kg for bulk quantity at Kandla and Rs 82/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.81/Kg for ex Kandla and Rs 82/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1190/MT.
• This week FOB Korea prices were assessed USD 1175/MTS prices have increased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1190-1210/MTS, prices have increased in compare to previous week.
• China styrene faces challenges after strong first half.
• Formosa Chemical & Fiber Corp is planning to shut its no1 and no2 Styrene unit for maintenance turnaround. The unit no1 has the production capacity of 2,50,000 mt/year and no2 has the production capacity of 3,50,000 mt/year. Units will remain off-stream for around 20 days from mid September. Unit is based at MAiliao in Taiwan.
• This week oil prices have varied and on Thursday oil prices rose as renewed attention were put on U.S. oil stockpile declines at Cushing, the delivery hub for U.S. crude futures.
• On Thursday, closing crude values have increased.WTI on NYME closed at $47.09/bbl, prices have increased by $0.31/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.76/bbl in compared to last trading and was assessed around $51.03/bbl.
• Market players are anticipating that crude oil prices to trade sideways on the back of short covering after drop in prices.
• Benzene inventories along eastern China increase to 128,300 tonnes.
• This week feedstock benzene prices have plunged with the plunge in oil prices.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 755/mt and USD770/mt respectively.

$1 = Rs. 64.14
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45