Styrene Monomer Weekly Report 24 June 2017

Weekly Price Trend: 19-06-2017 to 23-06-2017

• 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 increased in compare to previous week and at the end of the week prices were assessed Rs.80/Kg for bulk quantity at Kandla and Rs 82/kg for Mumbai ports of India.

Total import at various ports of India May, 2017

The above chart depicts the total imported quantity of Styrene Monomer for the month of May, 2017. In the month of May total imported quantity of Styrene Monomer was around 58128MT. As per chart last month at Kandla port imports were higher, while at Mangalore port imports were lower.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.80/Kg for ex Kandla and Rs 82/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1150/MT.
• This week FOB Korea prices were assessed USD 1080/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 have decreased in compare to previous week.
• China's domestic SM production stands at about 8.39 million mt/year, according to industry sources.
• As per report, styrene prices will see support until the end of the month due to the shut down of Trinseo's Bohlen styrene unit in early June.
• This week oil prices have followed mixed trend. The oil market posted its worst performance in the first six months in two decades effectively signaling its refusal to accept the effectiveness of the OPEC statement and its desire for further production cuts.
• As per report, OPEC and Russia tried to stabilize prices with cuts at around $50-$60 per barrel, but this week Brent prices fell toward $44 per barrel on persistent oversupply worries.
• On Thursday Crude oil rose moderately following a Wednesday in which the commodity bottomed just above $42 per barrel.
• On Thursday, closing crude values have increased.WTI on NYME closed at $42.74/bbl, prices have increased by $0.21/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.40/bbl in compared to last trading and was assessed around $45.22/bbl.
• This week feedstock benzene prices have decreased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 720/mt and USD750/mt respectively.

$1 = Rs. 64.52
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.50