Styrene Monomer Weekly Report 20 May 2017

Weekly Price Trend: 15-05-2017 to 19-05-2017
 

• 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 increased in compare to previous week and at the end of the week prices were assessed Rs.79/Kg for bulk quantity at Kandla and Rs 79.5/kg for Mumbai ports of India.

Total import at various ports of India April, 2017

Above chart represent the imported quantity of Styrene Monomer for the month of April, 2017. Last month total imported quantity was assessed 89241mt. As per chart at Bombay port higher quantity has been imported while at hazira port imports were lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.79/Kg for ex Kandla and Rs 79.5/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1110/MT.
• This week FOB Korea prices were assessed USD 1070/MTS prices have increased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1085-1105/MTS, prices increased in compare to previous week.
• With the increase in oil prices domestic SM prices also have increased.
• As per news, Idemitsu Malaysia is planning for SM turnaround in Q4.
• This week overall crude oil prices have plunged with little volatility. Recent announcements by Russia and Saudi Arabia have helped oil prices to recover and several analysts have highlighted the energy sector as a potential play for investors.
• As per recent report, Russia and Saudi Arabia announced earlier in the week that the supply cut should be extended for another nine months, into March 2018. Members of OPEC will meet next week to discuss extending the supply cut.
• Some market analyst predict that Russia and other major producers could help drive oil prices back to $60 per barrel or more with a new production deal, but that would also be a green light for U.S. shale drillers, said by source. Many analysts expect to see $60 oil by the end of the year, but the gains are not expected to spike much higher.
• On Thursday, closing crude values have increased.WTI on NYME closed at $49.35/bbl, prices have increased by $0.28/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.30/bbl in compared to last trading and was assessed around $52.51/bbl.
• This week upstream benzene prices have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 760/mt and USD775/mt respectively.

$1 = Rs. 64.64
Import Custom Ex. Rate USD/ INR: 65.30
Export Custom Ex. Rate USD/ INR: 63.60