Styrene Monomer Weekly Report 23 Dec 2017

Weekly Price Trend: 18-12-2017 to 22-12-2017

• 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.98/Kg for bulk quantity at Kandla and Rs 98/kg for Mumbai ports of India.

Total import at various ports of India November, 2017

Above chart shows the total imported quantity of Styrene Monomer for the month of November 2017. Previous month total imported quantity was 93062MT. As per chart last month at Kandla port imports were higher while at Mangalore port imported quantity was lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 98/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1300/MT.
• This week SM prices have plunged on weak buying sentiments and seasonal break.
• Despite the higher energy prices SM prices have plunged.
• As per market report, in China market inventory is available in ample amount while demand has been bearish on account of this prices have plunged.
• The Styrene unit is likely to undergo maintenance as per schedule. The unit based at China has the production capacity of 2,10,000 mt/year. The units will go off-stream in the month of January 2018. This shutdown will in turn cause a tight supply of Styrene Monomer in the first quarter of 2018.
• This week oil prices have followed mixed trend and closed on higher note. On Thursday, Oil prices higher, erasing earlier losses as Britain's Forties pipeline in the North Sea was expected to restart in early January after repairs over Christmas. Forties is the largest of the five North Sea crudes that underpin Brent, a benchmark for oil trading in Europe, the Middle East, Africa and Asia.
• On Thursday, closing crude values have increased. WTI on NYME closed at $58.36/bbl; prices have increased by $0.27/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.34/bbl in compared to last trading and was assessed around $64.90/bbl.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 865/mt and USD 880/mt respectively.

 $1 = Rs. 64.04
 Import Custom Ex. Rate USD/ INR: 64.90

 Export Custom Ex. Rate USD/ INR: 63.20