Styrene monomer Weekly Report 22 April 2017

Weekly Price Trend: 17-04-2017 to 21-04-2017

• 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 decreased in compare to previous week and at the end of the week prices were assessed Rs.92.5/Kg for bulk quantity at Kandla and Rs 92.5/kg for Mumbai ports of India.

Total import at various ports of India March, 2017

Above chart represents the imported quantity of Styrene monomer in the month of March, 2017. Total imported quantity previous moth was around 74670mt. Last month at Kandla port higher quantity have been imported, while at Hazira sport imports were lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.92.5/Kg for ex Kandla and Rs 92.5/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1200/MT.
• This week FOB Korea prices were assessed USD 1100/MTS prices have decreased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1115-1135/MTS, prices decreased in compare to previous week.
• This week SM prices sharply have plunged as demand sentiments have been lower.
• This week Styrene monomer market rebounded in East China with the assessment for prompt goods up.
• As per report, SM contract for June delivery has increased.
• From end user sectors presently no major deals and discussion has been heard.
• This week oil prices have followed mixed trend. On Wednesday oil slumped after U.S. data showed a smaller-than-expected drop in overall crude stocks and a surprising build in gasoline inventories, which raised worries about excessively high global supply.
• As per report, the surprise builds in gasoline, along with an increase in U.S. production and imports from OPEC nations, pressured prices. With just weeks to go before OPEC and other producers have to sign off on a new deal to hold down production. OPEC technical staff this month is expected to make a recommendation on whether to extend the cuts, and OPEC's monitoring committee meets the day before OPEC's May 25 meeting.
• Market players have said that to prevent a further ballooning in supplies, some OPEC producers including Saudi Arabia and Kuwait are lobbying to extend the pledge to cut production beyond June.
• On Thursday, closing crude values have remained mixed.WTI on NYME closed at $50.27/bbl, prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.06/bbl in compared to last trading and was assessed around $52.99/bbl.
• For the current week SM prices have decreased as feedstock benzene prices also have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 780/mt and USD785/mt respectively.

$1 = Rs. 64.61
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85