Styrene Monomer Weekly Report 23 June 2018

Weekly Price Trend: 18-06-2018 to 22-06-2018

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 firm at Kandla and Mumbai ports and at the end of the week prices were assessed Rs.100/Kg for bulk quantity at Kandla and Rs 100/kg for Mumbai ports of India.

Total import at various ports of India May, 2018

Above graph represent the total imported quantity of Styrene Monomer for the month of May, 2018.
Last month total import was around 139168MT. As per chart last month at Bombay port imports was higher while at Mangalore port import was lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.100/Kg for ex Kandla and Rs 100/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1400/MT.
• This week SM prices have decreased on bearish feedstock benzene prices and sluggish demand trends in major markets like China.
•  Asia SM supply tightness ease on arbitrage arrivals.
• Daqing Petrochemical is planning to shut its SM plant in early-July, 2018 for a maintenance turnaround. Plant is located in Daqing, China,. The plant is expected to remain shut until end-August 2018. Plant is having the production capacity of 225,000 mt/year.
• China has reduced anti-dumping duties (ADD) on styrene monomer from South Korean and Taiwan, and hiked the levy on US cargoes in its final decision.
• The levy to be imposed on cargoes from South Korea will decrease to 6.2-7.5%, while cargoes from Taiwan will have a duty of 3.8-4.2%. However, cargoes originating from the US - with which it is engaged in an ever escalating trade spat - have a higher ADD of 13.7-55.7%.
• The new ADD rate will be effective from 23 June, and will remain in place for the next five years, according to a notice on its website.
• This week East China benzene inventories rise.
• Benzene inventories at shore tanks along eastern China fell.
• This week benzene prices have plunged.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 800/mt and USD 815/mt respectively.
• This week crude oil prices have followed volatile trend. on Thursday Global benchmark Brent crude extended losses ahead of Friday's meeting of the OPEC, where producers are expected to boost output.
• On Thursday, closing crude values have plunged. WTI on NYME closed at $65.54/bbl; prices have decreased by $0.17/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $1.69/bbl in compare to last closing price and was assessed around $73.05/bbl.
• Today  oil prices rose by more than 1 percent in early Asian trading, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.

 $1 = Rs. 67.84
 Import Custom Ex. Rate USD/ INR: 69.10

 Export Custom Ex. Rate USD/ INR: 67.40