Styrene Monomer Weekly Report 28 April 2018

Weekly Price Trend: 23-04-2018 to 27-04-2018

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 escalated at Kandla port in compare to previous week and at the end of the week prices were assessed Rs.98/Kg for bulk quantity at Kandla and Rs 99/kg for Mumbai ports of India.

Total import at various ports of India March, 2018

Above chart represents the total imported quantity of Styrene Monomer for the month of March, 2018. Last month total imports were around 143736MT. 

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 99/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1365/MT.
• This week SM prices have decreased while crude oil prices increased.
• Feedstock benzene prices have firm in Asian market this week.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 840/mt and USD 840/mt respectively.
• This week oil prices have followed little volatility at the end of the week prices have escalated. On Thursday oil prices increased, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and ongoing strong demand.
• On Thursday, closing crude values have increased. WTI on NYME closed at $68.19/bbl; prices have increased by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.74/bbl in compared to last trading and was assessed around $74.74/bbl.
• Venezuela's plunging output and looming U.S. sanctions against Iran come against a backdrop of strong demand, especially in Asia, the world's biggest oil consuming region. However, not all market indicators point towards tighter supplies. Soaring U.S. oil production and exports are holding back further price gains.

 $1 = Rs. 66.66
 Import Custom Ex. Rate USD/ INR: 66.70

 Export Custom Ex. Rate USD/ INR: 65.00