Styrene Monomer Weekly Report 21 Dec 2018

Weekly Price Trend: 17-12-2018 to 21-12-2018

• 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 remained vulnerable for most of the week with sudden rise in the values by end of the week.
• On Friday domestic values were assessed around Rs.85/Kg for bulk quantity at Kandla and Rs. 86/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.85/Kg for Kandla and Rs 86/kg Mumbai ports.
• FOB Korea values for Styrene were assessed around USD 965/MT decreased by USD 17/MT in one week. On other side CFR china prices also decreased by USD 1010/MT, again reduced by USD 17/MT for this week.
• South East Asia prices of SM were evaluated at USD 1020/mt. In compare to other prices there has been decline in values for South East Asian market.
• Benzene FOB Korea prices declined by USD 42/MT in this week. FOB Korea values were assessed around USD 558/MT. On other side CFR China prices were assessed around USD 586/MT for this week.
• Price remained vulnerable for this week in crude market. Earlier prices slowed down on Wednesday with impact of publish of data by US of crude supplied.
• The upcoming holiday season in China has weaken the demand further as most of the units opts for shutdown during this period
• Crude market has been operating at lower levels since past few weeks. The prices tumbled by around 4.8% and has reduced to the levels of USD 45.88/bbl. This has reached to its lowest levels in last seventeen months. The oversupply has been the prime reason for this downfall.
• Demand for oil has reduced this year on contrary the market has been flooded with oversupply from world’s top three producers- the USA, Russia and Saudi Arabia.
• Last month earlier OPEC and other 10 producers agreed to cut down their production to remove 1.2 mln barrels per day from the market. But this step has least impact on the market. This cut down in production will last only till January 2019, further no decision has been taken yet.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $45.88/bbl. Prices have decreased by $2.29/bbl in compared to last closing pric  The domestic prices of Styrene were assessed at the level of Rs.85/Kg for Kandla and Rs 86/kg Mumbai ports. 

PLANT NEWS

• SM unit shut down by Changzhou Dohow Chemical
• Changzhou Dohow Chemical has shut down its SM unit for maintenance turnaround. Changzhou Dohow Chemical is a subsidiary of New Solar group. The unit was shut down last week for maintenance schedule. Unit is likely to remain off-stream for around one month and will resume its production in the second week of January 2019.
• Unit is based at Jiangsu province of China and has the production capacity of 2,00,000 mt/year. 

 $1 = Rs. 70.14

 Import Custom Ex. Rate USD/ INR: 71.75

 Export Custom Ex. Rate USD/ INR: 70.05