Styrene Monomer Weekly Report 19 July 2019

Weekly Price Trend: 15-07-2019 to 19-07-2019

• 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 has improved significantly for this week.
• On Friday domestic values were assessed around Rs.80/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.80/Kg for Kandla and Rs. 82/kg Mumbai ports. Domestic prices increased for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 1005-1025/MT, reduced by USD 20/MT in this week. On other side CFR China prices also reduced for this week. Prices were reduced by USD 20/MT for this week and were assessed at the level of USD 1055/MT for this week. South East Asia prices of SM were evaluated at USD 1070/MT.
• There has been slowdown in Benzene values as well in international market. Benzene the major source for SM has affected significantly SM values. FOB Korea values were assessed in the range of USD 675/MT, decreased by USD 25/MT for this week. CFR China prices were assessed at the level of USD 685/MT, reduced by USD 20/MT for this week.
• Crude prices continue to decline in international market as Crude has overvalued in the past weeks and the scenario might deteriorate soon. Even after declining Crude inventories in U.S. prices continue to decline for the fourth trading session.
• Further tension in the Middle East further escalated after U.S. claimed to destroy an Iranian drone in the Strait of Hormuz which is a prime route for the global crude flows.
• Further fresh concerns rising from the Middle East might hamper the supply and in turn support Crude prices. However, worries over global slowdown continue to hamper Crude prices as President Donald Trump stated that an actual deal between U.S. & China might take time but he wouldn’t fall back to impose tariffs on $325 billion worth of Chinese imports in U.S. if needed.
• On Thursday day, closing crude values have mixed. WTI on NYME closed at $55.28/bbl. Prices have decreased by 2.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 1.15/bbl in compare to last closing price and was assessed around $65.5/bbl. 

$1 = Rs. 68.80

Import Custom Ex. Rate USD/ INR: 69.65

Export Custom Ex. Rate USD/ INR: 67.95