Styrene Monomer Weekly Report 25 September 020

Weekly Price Trend: 21-09-2020 to 25-09-2020

• If we take a quick look at the above given weekly prices, it can be observed that there has been decline in domestic prices throughout this week.
• On Friday domestic values were assessed around Rs.57/Kg for bulk quantity at Kandla and for Mumbai ports of India by end of the week. Prices reduced by Rs.3/Kg for this week.

Booking Price

 INDIA & INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.57/Kg for Kandla and for Mumbai ports. Domestic prices reduced significantly for this week.
• FOB Korea values for SM were assessed at the level of USD 660/MT for this week. While CFR China prices were assessed at the level of USD 680/MT for this week.
• FOB Korea values for Benzene were assessed around USD 420/MT for this week. CFR China prices were assessed at the level of USD 430/MT for this week.
• The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
• The global market is feeling the heat of pandemic and exports across the nations has dropped significantly. Singapore the energy hub in the South Asian region has witnessed the decline in exports by 16.4%.
• There has been decline in capacity utilization of Indian refineries. On an average the capacity utilization for all categories has declined to 76% which was earlier 83% in the month of August. The lowest reruns of refineries owing pandemic and lockdown imposed has led to shutdown and maintenance of refineries. The run rate was 104% in the year-ago period.
• Refineries like Indian Oil Corp's Paradip, Reliance's export-oriented unit, and Hindustan Petroleum Corp. Ltd's Vizag refinery carried out maintenance programs at a time when retail demand is low due to the COVID-19 impact.
• On Thursday closing, there was improvement in prices. WTI on NYME closed at $40.31/bbl. Prices improved by 0.38/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.41/bbl in compare to last closing price and was assessed around $41.94/bbl.

 $1 = Rs. 73.61

Import Custom Ex. Rate USD/ INR: 74.60

Export Custom Ex. Rate USD/ INR: 72.90