Styrene Monomer Weekly Report 20 September 2019
Weekly Price Trend: 16-09-2019 to 20-09-2019
- 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 slightly for this week.
- On Friday domestic values were assessed around Rs.77/Kg for bulk quantity at Kandla and Rs.79/kg for Mumbai ports of India reduced by Rs.2/Kg since beginning of the week.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.74/Kg for Kandla and Rs. 76/kg Mumbai ports. Domestic prices reduced by end of the week. Initially with the starting of the week there was significant hike as last week international prices augmented by USD 50/MT in international market.
- On other side, FOB Korea values for Styrene were assessed around USD 975-995/MT, heavily reduced by USD 50/MTS in this week. On other side CFR China prices also reduced for this week and were assessed at the level of USD 1020-1020/MT reduced by USD 65/MT for this week. South East Asia prices of SM were evaluated at USD 1020/MT.
- Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 720/MT, increased by USD 20/MT for this week, while CFR China prices also improved and were assessed at the level of USD 735/MT for this week.
- Oil prices rose sharply on Thursday, supported by supply risks as the market assesses the fallout from last weekend's drone attacks on Saudi oil infrastructure.
- The attacks knocked out around half of Saudi Arabia's crude production and severely limited the country's spare capacity, a cushion for oil markets in any unplanned outage.
- "Global available spare capacity is extremely low at present following the weekend attacks, leaving little room for additional outages, which tends to be price supportive," UBS oil analyst Giovanni Staunovo said.
- Earlier this week Saudi Arabia set out a timeline for a resumption of full operations, saying it had restored supplies to customers at levels prior to the attacks by drawing from its oil inventories.
- It said it would restore its lost production by the end of this month, and bring its output capacity back to 12 million barrels per day by the end of November.
- "These plans suggest Saudi Arabia will have no spare capacity for at least the next two and a half months and therefore no way to absorb any further shocks," consultancy Energy Aspects said.
- Saudi Arabia, the world's leading oil exporter, has said the crippling attack on its oil sites was "unquestionably sponsored" by regional rival Iran.
PLANT NEWS
Osaka cracker to be shut down for maintenance by Mitsui Chemicals
- Mitsui Chemicals has announced its maintenance schedule for its Oska cracker. The company has announced its maintenance schedule for the year 2020. Unit is likely to go off-stream in the month of July 2020. The unit is likely to remain off-stream for around one month.
- Unit is based at Osaka, Japan, the cracker has an ethylene capacity of 450,000 mt/year and a propylene capacity of 280,000 mt/year.
$1 = Rs. 71.04
Import Custom Ex. Rate USD/ INR: 72.20
Export Custom Ex. Rate USD/ INR: 70.50
