Styrene Monomer Weekly Report 24 Feb 2018

Weekly Price Trend: 19-02-2018 to 23-02-2018

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 decreased in compare to previous week and at the end of the week prices were assessed Rs.94/Kg for bulk quantity at Kandla and Rs 94/kg for Mumbai ports of India.

Total import at various ports of India January, 2018

Above graph represents the total imported quantity of Styrene Monomer for the month of January 2018. As per graph previous month total imports was around 140936MT. At Kandla port imports were higher while at Mangalore port imports were lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.94/Kg for ex Kandla and Rs 95/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1310/MT.
• This week SM prices have decreased in international market.
• Presently SM market is moving with soft velocity no major deals and discussion has been heard.
• The Ministry of Commerce of the People's Republic of China announced the anti-dumping duties of 5%-10.7% would be implemented on styrene monomer from South Korea, Taiwan, and the US, with effect from February 13. The duty varies according to the company from which the cargo is produced, and will be paid to China's General Administration of Customs.
• The Hanwha Total Petrochemical Company with dutiable level of 7.8%, Yeochun NCC Company with 7.8%, Lotte Chemical Corporation with 8.4% LG Chemical with 8.0%,SK Global Chemical with 8.0%,All other Korean companies with 8.4%, Taiwan Chemical Fiber Company with 5.0%, All other Taiwanese companies with 5.0%, Lyondell Chemical Company with 9.2%, Westlake Styrene with 10.7%, INEOS Styrolution America with 9.6%, Americas Styrenics with 9.6% and  All other US companies with 10.7%.
• Feedstock benzene prices have decreased in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 890/mt and USD 905mt respectively.
• This week oil prices have followed mixed trend. Oil prices rose on Thursday, on U.S. crude stocks unexpectedly declined and also by a drop in the dollar.
• On Thursday, closing crude values have increased. WTI on NYME closed at $62.77/bbl; prices have increased by $1.09/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.97/bbl in compared to last trading and was assessed around $66.39/bbl.
• Crude inventories had been forecast to rise 1.8 million barrels, as stocks seasonally increase when refineries cut intake to conduct maintenance. As per source, the unexpected fall in oil inventories in the U.S. should see support for crude oil prices remain strong.

 $1 = Rs. 64.73
 Import Custom Ex. Rate USD/ INR: 64.50

 Export Custom Ex. Rate USD/ INR: 62.85