Styrene Monomer Weekly Report 27 September 2019
Weekly Price Trend: 23-09-2019 to 27-09-2019
- 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 slightly for this week.
- On Friday domestic values were assessed around Rs.72/Kg for bulk quantity at Kandla and Rs.74/kg for Mumbai ports of India reduced by Rs.1/Kg since beginning of the week.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.72/Kg for Kandla and Rs. 74/kg Mumbai ports. Domestic prices reduced by end of the week.
- On other side, FOB Korea values for Styrene were assessed around USD 975-995/MT, with no change in values for this week. CFR China prices also remained stable and were assessed at the level of USD 1020-1020/MT. CFR South East Asia prices of SM were evaluated at USD 735/MT.
- China will be celebrating its Golden week festival next week. So prior to this most of Chinese markets are in mood to wind up their activities and to make fresh deals only after mini vacation.
- The major manufacturers will be opting for either shutdown or , cutbacks and restricted highway transportation. Overall there will be completed silence from China market and very limited enquiries will be heard for next week.
- Benzene the major source for aromatic products also remained unchanged for this week. FOB Korea values for Benzene were assessed around USD 720/MT for this week, while CFR China prices were assessed at the level of USD 730/MT for this week.
- Oil prices fell on Friday, erasing more of the gains realized after the Sept. 14 attacks on Saudi Arabian oil facilities, as the rapid return of production capacity from the world’s top exporter squashed risk premiums.
- For most of the week the market has been trading lower as oil bulls have been discouraged by the quicker-than-expected return of Saudi oil output.
- Saudi Arabia had brought its production capacity back to 11.3 million barrels per day (bpd) less than two weeks after the attacks on it oil facilities, sources briefed on the matter told Reuters this week.
- The attacks, which knocked out 5.7 million bpd of production, initially sent oil prices up 20% although they dropped soon after as the kingdom pledged to bring back output by the end of September.
PLANT NEWS
Osaka cracker to be shut down for maintenance by Mitsui Chemicals
- Mitsui Chemicals has announced its maintenance schedule for its Oska cracker. The company has announced its maintenance schedule for the year 2020. Unit is likely to go off-stream in the month of July 2020. The unit is likely to remain off-stream for around one month.
- Unit is based at Osaka, Japan, the cracker has an ethylene capacity of 450,000 mt/year and a propylene capacity of 280,000 mt/year.
$1 = Rs. 70.61
Import Custom Ex. Rate USD/ INR: 72.20
Export Custom Ex. Rate USD/ INR: 70.50
