Styrene Monomer Weekly Report 26 July 2019

Weekly Price Trend: 22-07-2019 to 26-07-2019

• 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 has improved significantly for this week.
• On Friday domestic values were assessed around Rs.85/Kg for bulk quantity at Kandla and Rs.87/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.85/Kg for Kandla and Rs. 87/kg Mumbai ports. Domestic prices increased for this week. Prices increased significantly by Rs.5/Kg for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 1010-1030/MT, increased by USD 5/MT in this week. On other side CFR China prices also slightly increased for this week and were assessed at the level of USD 1060/MT for this week. South East Asia prices of SM were evaluated at USD 1045/MT.
• Benzene the major source for aromatic products has reduced for this week. FOB Korea values for Benzene were assessed around USD655/MT, reduced by USD20/MT for this week, while CFR China prices also increased and were assessed at the level of USD 655/MT for this week.
• OPEC is considering using several metrics to assess where global oil (over)supply stands, including taking the five-year average of oil stocks in 2010-2014 instead of the most recent five-year average 2014-2018, which it currently reports in its monthly oil market reports and which the International Energy Agency (IEA) also takes as a benchmark to measure oil inventories.
• OPEC and its Russia-led non-OPEC allies are in their third year of managing supply to the market, hoping to draw down high inventories and push up oil prices.
• With demand rising over the next nine months and the commitments from all the countries, including the Kingdom of Saudi Arabia, we are approaching the normal levels of supplies of 2010-2014. It is one of the options in front of us as a goal.”
• The rate of the last five years is another option, which we think is unsuitable. We will study the middle options between these two choices. In any case, we will make sure that the market is balanced with proportionate indicators.  

$1 = Rs. 68.92

Import Custom Ex. Rate USD/ INR: 69.65

Export Custom Ex. Rate USD/ INR: 67.95