Styrene Monomer Weekly Report 20 Jan 2018

Weekly Price Trend: 15-01-2018 to 19-01-2018

• 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 decreased in compare to previous week and at the end of the week prices were assessed Rs.98/Kg for bulk quantity at Kandla and Rs 98/kg for Mumbai ports of India.

Total import at various ports of India December, 2017

Above graph represents the imported quantity of Styrene Monomer for the month of December, 2017. Last month total imported quantity was around 68838MT.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 98/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1380/MT.
• Despite increase in upstream benzene values, SM prices in Asia plunged.
• As per report, SM prices plunged on with improved product availability and feeble demand trends in China.
• In China's Changzhou Dohow Chemical supported prices as The company's 200,000 mt/year styrene monomer line in eastern Jiangsu province was forced to shut on technical issues.
• Styrene Monomer unit has been restarted by SP Chemicals. Earlier the unit was shut down to some technical glitch last week. The issue has been resolved and operations are being carried out now. Unit is based at Taixing in Jiangsu province of China and has the manufacturing capacity of 3,20,000 mt/year.
• NS Styrene Monomer unit will shut its SM unit no 1 for maintenance turnaround. The unit is likely to go off-stream in the second week of March and is expected to remain off-stream for around 30 days. The unit no 1 has the manufacturing capacity of 1,90,000 mt/year. The other unit no 2 will also remain off-stream for maintenance. The unit will be shutdown in the last week of February and will remain off-stream for around 50 days. The unit no 2 has the manufacturing capacity of 2,30,000 mt/year. Units are based at Oita in Japan.
• Oil prices have followed volatile trend this week. On Thursday Oil rebounded after slipping below $69 a barrel, supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite concerns that OPEC-led output cuts will increase supply from the United States.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $63.95/bbl; prices have decreased by $0.02/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.07/bbl in compared to last trading and was assessed around $69.31/bbl.
• As per report, the upside is now limited for oil prices. U.S. oil producers will ramp up production in the coming months. Some traders said that prices were unlikely to fall far due to the OPEC-led curbs and the risk of further disruptions.
• Feedstock benzene prices have increased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 945/mt and USD 940/mt respectively.

 $1 = Rs. 63.85
 Import Custom Ex. Rate USD/ INR: 64.80

 Export Custom Ex. Rate USD/ INR: 63.10