Styrene Monomer Weekly Report 25 Jan 2019

Weekly Price Trend: 21-01-2019 to 25-01-2019

• 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 stable for most of the week with no change in prices.
• On Friday domestic values were assessed around Rs.86/Kg for bulk quantity at Kandla and Rs. 88/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.86/Kg for Kandla and Rs 88/kg Mumbai ports.
• FOB Korea values for Styrene were assessed around USD 960/MT remained unchanged fort this week. On other side CFR China prices also decreased by USD 1010/MT, again remained stable in compare to last week’s closing values.
• South East Asia prices of SM were evaluated at USD 990/MT. Here also improvement in the values was observed.
• Benzene FOB Korea prices also remained stable and unchanged for this week. FOB Korea values were assessed around USD 560/MT. On other side CFR China prices were assessed around USD 600/MT for this week.
• Prices are likely to remain tight in the first half of 2019 as many units are likely to undergo maintenance. SM plant turnarounds in Asia -- particularly in South Korea and Taiwan which have been scheduled between March and May -- could support prices.
• Chinese demand growth is expected, even though at a weaker rate than earlier, owing to the slowdown in economic growth in China. An additional 1.4 million mt/year plant capacity is expected in China towards the end of 2019.
• Crude has been on toes as US/China continues to worry the world and on other side there has been heavy production of crude from US.
• These global worries are having an adverse impact on the world economic growth. On Thursday, closing crude values have increased. WTI on NYME closed at $53.13/bbl. Prices have increased by $0.51/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.05/bbl in compare to last closing price and was assessed around $61.09/bbl. 

$1 = Rs. 71.16

Import Custom Ex. Rate USD/ INR: 72.10

Export Custom Ex. Rate USD/ INR: 70.40