Styrene Monomer Weekly Report 26 Aug 2017

Weekly Price Trend: 21-08-2017 to 25-08-2017

• 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 remained firm in compare to previous week and at the end of the week prices were assessed Rs.82/Kg for bulk quantity at Kandla and Rs 83/kg for Mumbai ports of India.

Total import at various ports of India July, 2017

Above chart represents the total imported quantity of Styrene Monomer for the month of July 2017. Last month total imports were around 109096mt. As per chart previous month at Kandla port imports were higher while at Mangalore port imported quantity were lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.82/Kg for ex Kandla and Rs 83/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1190/MT.
• This week FOB Korea prices were assessed USD 1175/MTS prices have remained firm in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1190-1210/MTS, prices have remained firm in compare to previous week.
• China's Changzhou Dohow Chemical shut its No. 2 styrene monomer unit on account of dearth of upstream product ethylene. Plant is having the production capacity of around 300000 mt/yr and placed at eastern Jiangsu province, China. As per report, It is unclear that when the unit will resume its production.
• Market sentiment remains mixed on benzene demand ahead amid numerous styrene plant turnarounds and medium changes.
• This week crude oil prices have remained volatile. On Friday, oil prices rose as the U.S. petroleum industry prepared for potential output disruptions as Hurricane Harvey headed for the heart of the nation’s oil industry in the Gulf of Mexico.  The storm has rapidly intensified since Thursday while On Thursday closing crude values have decreased.WTI on NYME closed at $47.43/bbl, prices have decreased by $0.98/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.53/bbl in compared to last trading and was assessed around $52.04/bbl.
• As per report, Prices rose as production in the affected area shut down in preparation for the hurricane, and on expectations that closures could last if the storm causes extensive damage.
• Market players have said that traders expect more upward pressure as the storm gets closer to Texas. Oil prices, however, fell because refiners may use less supply due to the storm.
• It is anticipated that recently oil prices to trade higher on account of support coming from inventory withdrawals in the US. However, Libya’s rising output remains a cause of concern for oil markets.
• Benzene inventories along eastern China decrease slightly.
• Dalian Fujia Dahua Petrochemical restarts aromatics unit.
• This week feedstock benzene prices have plunged with the plunge demand sentiments.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD770/mt respectively.

$1 = Rs. 64.03
Import Custom Ex. Rate USD/ INR: 65.15
Export Custom Ex. Rate USD/ INR: 63.45