Styrene Monomer Weekly Report 21 August 2020
Weekly Price Trend: 17-08-2020 to 21-08-2020
- If we take a quick look at the above given weekly prices, it can be observed that there has been decline in domestic prices for this week.
- On Friday domestic values were assessed around Rs.58/Kg for bulk quantity at Kandla and for Mumbai ports of India by end of the week. Prices remained weak for this week.
Booking Price
INDIA & iNTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.58/Kg for Kandla and for Mumbai ports. Domestic prices reduced by Rs 2/Kg for this week.
- FOB Korea values for SM were assessed at the level of USD 615/MT for this week. While CFR China prices were assessed at the level of USD 640/MT for this week.
- FOB Korea values for Benzene was assessed around USD 430-435/MT for this week. There has been correction of USD 5-7/MT in Benzene values. CFR China prices were assessed at the level of USD 442/MT for this week.
- There has been decline in Benzene FOB Korea prices affecting whole of the south Asian market. There has been heavy rains in the western part of India specifically Mumbai which has halted all the port as well as other operations.
- Domestic market has been operating at slower rate this year due to pandemic. The season of festivals has already started in India but there is no demand nor any kind of rush for domestic consumption.
- There has been mixed trend in petrochemical market. Prices for the specific category of chemicals have been declining with slowdown in demand. Petrochemical segment has been struggling owing oversupply. There has been steep decline in consumption as most of the economies in Asian subcontinent are passing through major recession phase.
- Most major countries in Southeast Asia posted sharp economic contractions in the second quarter, while the number of infections in countries such as Indonesia, the Philippines and India continue to spike.
$1 = Rs. 74.84
Import Custom Ex. Rate USD/ INR: 75.90
Export Custom Ex. Rate USD/ INR: 74.15
