Styrene Monomer Weekly Report 21 February 2020

Weekly Price Trend: 17-02-2020 to 21-02-2020

• If we take a quick look at the above given weekly prices, it can be observed that for the current week prices reduced for this week.
• On Friday domestic values were assessed around Rs.71/Kg for bulk quantity at Kandla and Rs.71/kg for Mumbai ports of India by end of the week.

Booking  Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.71/Kg for Kandla and Rs. 72/kg Mumbai ports. Domestic prices have reduced slightly for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 800-820/MT, increased by USD 15/MT for this week. CFR China prices also reduced for this week. Prices were assessed at the level of USD 835/MT. South East Asia prices of SM were evaluated at USD 805/MT.
• Benzene the major source for aromatic products has improved for this week. FOB Korea values for Benzene were assessed around USD 675/MT for this week, increased by USD 15/MTS for this week while CFR China prices were assessed at the level of USD 677/MT for this week again increased by USD17/MT for this week.
• Oil prices has been on rising trend as the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.
• Scores of new coronavirus cases and a first death in South Korea fanned fears of global pandemic as research suggested it could be more contagious than previously thought.
• China’s move to cut its benchmark lending rate eased some worries about slowing demand in the world’s second-biggest oil consumer and largest crude oil importer.
• Indian markets remained closed due to festival of shivratri across the country and very few discussions were heard in the market.

$1 = Rs. 71.66

Import Custom Ex. Rate USD/ INR: 72.65

Export Custom Ex. Rate USD/ INR: 70.95