Styrene Monomer Weekly Report 25 March 2017

Weekly Price Trend: 20-03-2017 to 24-03-2017

• 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.94/Kg for bulk quantity at Kandla and Rs 99/kg for Mumbai ports of India.

Total import at various ports of India February, 2017

Above chart represent the imported quantity of Styrene Monomer for the month of February, 2017. Previous month total imported quantity was around 67852mt. As per the chart last month at Nhava Sheva port lower quantity has been imported while at Bombay port imports was higher.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.94/Kg for ex Kandla and Rs 99/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1250/MT.
• This week FOB Korea prices were assessed USD 1135/MTS prices have decreased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1160-1180/MTS, prices decreased in compare to previous week.
• This week oil prices have followed scrawny inclination. Oil prices have plunged as U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. Now investors await a meeting between OPEC and its allies that may signal whether they will extend output curbs.
• As per source American crude output continued to rise along with inventories, While OPEC won’t formally decide until May whether to extend production curbs, officials will meet this weekend in Kuwait to discuss their deal’s progress.
• Market analyst said that without the production cut agreement, prices could basically target the low-to-mid $30s, players are positive that they will extend production cut. Some players are anticipating lowering prices due to high supplies.
• On Monday WTI were closed at $49.31 and Brent closed at $51.76 while on Thursday, closing crude values have decreased.WTI on NYME closed at $47.70/bbl, prices have decreased by $0.34/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.08/bbl in compared to last trading and was assessed around $50.56/bbl.
• For the current week SM prices have decreased as feedstock benzene prices also have decreased.
• East China benzene shore tank inventories fall to 93,000 tonnes.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 715/mt and USD725/mt respectively.

$1 = Rs. 65.41
Import Custom Ex. Rate USD/ INR: 66.20
Export Custom Ex. Rate USD/ INR: 64.50