Styrene Monomer Weekly Report 23 Sep 2017

Weekly Price Trend: 18-09-2017 to 22-09-2017

• 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 plunged in compare to previous week and at the end of the week prices were assessed Rs.92/Kg for bulk quantity at Kandla and Rs 93/kg for Mumbai ports of India.

Total import at various ports of India August, 2017

Above chart represents the total imported quantity of Styrene Monomer for the month of August, 2017. Last month total imports were around 80864mt. As per chart at Kandla port imports were higher while at Hazira port import was lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.92/Kg for ex Kandla and Rs 93/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1330/MT.
• This week FOB Korea prices were assessed USD 1340/MTS prices have increased in compared to last week’s closing prices.
• Presently styrene monomer market is moving with soft velocity no major deals and discussion has been heard.
• Recently China's styrene prices fall after gains on port restriction concerns.
• As per report, ZRCC Lyondell running at lowered rate and expected to resume its normal production end Sep.
• Ningbo Keyuan also cut operating rate at its two SM unit to 50% on Sep 15.
• As per report in China tank and commercial inventory has been increased which has resulted plunge in prices.
• Some market players have said that they have adopted wait and watch stances for uncertain market outlook.
• This week feedstock benzene prices have decreased.
• As per report, Styrene is expected to be supported by continued tightness in September, as well as concerns over delays to import cargoes into Europe.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 795/mt and USD 805/mt respectively.
• This week oil prices have followed mixed trend. Oil prices were steady on Thursday ahead of a meeting of oil producers that could extend production limits aimed at clearing a glut that has depressed the market for more than three years. As per report, Ministers from the OPEC, Russia and other producers meet in Vienna on Friday and are due to consider extending output cuts that began in January.
• On Thursday, closing crude values have mixed.WTI on NYME closed at $50.55/bbl, prices have decreased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.14/bbl in compared to last trading and was assessed around $56.43/bbl. Presently many analysts anticipate that OPEC to extend the deal, possibly to the end of next year.

$1 = Rs. 64.79
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70