Styrene Monomer Weekly Report 19 May 2018
Weekly Price Trend: 14-05-2018 to 18-05-2018
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 fluctuated at Kandla port while at Mumbai port prices have plunged and at the end of the week prices were assessed Rs.98/Kg for bulk quantity at Kandla and Rs 99/kg for Mumbai ports of India.
Total import at various ports of India April, 2018
Above graph represents the imported quantity of Styrene Monomer for the month of April, 2018. Last month total imported quantity was around 103963mt.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 99/kg Mumbai ports.
- CIF India prices were assessed at the level of USD 1410/MT.
- This week SM prices have increased as oil prices sharply have escalated and feedstock benzene prices also have increased.
- This week crude oil prices escalated. Oil prices hit $80 a barrel on Thursday for the first time since November 2014 on concerns that Iranian exports could fall because of renewed U.S. sanctions, reducing supply in an already tightening market.
- On Thursday, closing crude values have increased. WTI on NYME closed at $71.49/bbl; prices have increased remained firm in compared to last closing prices. While Brent on Inter
- Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $79.30/bbl.
- As per market report, The potential loss of 1 million barrels of Iranian crude from the world market and the ongoing decline of Venezuela's oil sector could push oil prices beyond $100/b. Global inventories of crude oil and refined products dropped sharply in recent months owing to robust demand and OPEC-led production cuts.
- Benzene inventories at shore tanks along eastern China increased.
- This week benzene prices have increased.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 880/mt and USD 880/mt respectively.
$1 = Rs. 68.00
Import Custom Ex. Rate USD/ INR: 68.65
Export Custom Ex. Rate USD/ INR: 66.95
