Styrene Monomer Weekly Report 20 Oct 2018

Weekly Price Trend: 15-10-2018 to 19-10-2018

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 decrease at Kandla and at Mumbai ports and at the end of the week prices were assessed Rs.106/Kg for bulk quantity at Kandla and Rs 105/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.106/Kg for Kandla and Rs 105/kg Mumbai ports.
• South East Asia prices of SM were evaluated at USD 1415/mt.
• CFR India SM prices were evaluates at USD 1350/mt.

• Rising U.S. crude stockpiles, forecasts for slower-than-expected demand growth and a sell-off in stock markets have weighed on crude futures.
• The supply of oil held in U.S. storage tanks has risen sharply over the last four weeks. U.S. crude stockpiles are up by 22.3 million barrels through last week. That's the biggest increase over that four-week period since 2015, when storage levels were rising toward all-time highs in a heavily oversupplied market.
• The market remains uncertain about the ability of producers such as Saudi Arabia and Russia to fill the gap left by the loss of roughly 1 million barrels a day of Iranian exports. Analysts say the market is deeply cynical that Riyadh would cut output and push oil prices higher to settle a political score.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $68.65/bbl. Prices have decreased by $1.10/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.76/bbl in compare to last closing price and was assessed around $79.29/bbl.

• This week domestic and International prices of Phenol have increased sharply.
• This week Asian benzene prices up on firm crude,   ample supply to cap further gains.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 835/mt and USD 848/mt respectively.

 $1 = Rs. 73.32
 Import Custom Ex. Rate USD/ INR: 74.30
 Export Custom Ex. Rate USD/ INR: 72.60