Styrene Monomer Weekly Report 25 Feb 2017

Weekly Price Trend: 20-02-2017 to 24-02-2017

• 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.111/Kg for bulk quantity at Kandla and Rs 111/kg for Mumbai ports of India.

Total import at various ports of India January, 2017

Above chart represent the import quantity of Styrene Monomer for the month of January 2017. In January total imported quantity were around 99629mt.As per chart previous month at Kandla port higher quantity has been imported while at Mangalore port imports were lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.111/Kg for ex Kandla and Rs 111/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1400/MT.
• This week FOB Korea prices were assessed USD 1340-1360/MTS prices have decreased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1360-1380/MTS, decreased in compare to previous week.
• Oil prices remained volatile through the week. Some market players have said that oil prices will remain stuck in a narrow range as OPEC continues to cut output and U.S. drillers increase production. That will cap the recovery for oil stocks.
• The U.S. exported a good amount of crude oil and filling the gap in world markets created by OPEC cutbacks. OPEC certainly has to be concerned with U.S. oil producers eating into their market share. As per market analyst in near term the pressure on prices is going to stay in place and ultimately break out of this range to the downside.
• On Thursday, closing crude values have increased.WTI on NYME closed at $54.45/bbl, prices have increased by $0.86/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $56.58/bbl.
• For the current week SM prices have decreased as feedstock benzene prices also have decreased.
• This week Feedstock benzene prices have decreased on account of on account of weak selling activity in the region coupled with ample product availability.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 1025/mt and USD1040/mt respectively.

$1 = Rs. 66.83
Import Custom Ex. Rate USD/ INR: 67.85
Export Custom Ex. Rate USD/ INR: 66.15