Styrene Monomer Weekly Report 28 February 2020
Weekly Price Trend: 24-02-2020 to 28-02-2020
- If we take a quick look at the above given weekly prices, it can be observed that for the current week prices increased for this week.
- On Friday domestic values were assessed around Rs.77/Kg for bulk quantity at Kandla and for Mumbai ports of India by end of the week.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.77/Kg for Kandla and Mumbai ports. Domestic prices have increased significantly for this week.
- On other side, FOB Korea values for Styrene were assessed around USD 785-805/MT, reduced by USD 15/MT for this week. CFR China prices also reduced for this week. Prices were assessed at the level of USD 820/MT. South East Asia prices of SM were evaluated at USD 820/MT.
- Benzene the major source for aromatic products has reduced heavily for this week. FOB Korea values for Benzene were assessed around USD 635/MT for this week, reduced by USD 40/MTS for this week while CFR China prices were assessed at the level of USD 645/MT for this week again reduced by USD40/MT for this week.
- On Thursday, closing crude values have decreased. WTI on NYME closed at $47.09/bbl. Prices have decreased by 1.64/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is decreased by 1.25/bbl in compare to last closing price and was assessed around $53.18/bbl.
- Oil prices has been operating on declining mode and were on track for about a 12 per cent weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
- The virus, which has already killed more than 2,700 people in China, has been found in another 46 countries and caused 57 deaths. Experts worry the epidemic could turn into a pandemic and deliver a damaging blow to the global economy.
- The most active Brent crude contract for May was down 90 cents, or 1.7 per cent, at $50.83 a barrel by 0141 GMT, a 14-month low. The front-month April contract expires today.
- The international benchmark, which fell about 2 per cent on Thursday, has shed around 12 per cent this week and is on track for its steepest weekly decline since mid-January 2016.
- With new infections reported around the world now surpassing those in mainland China, the World Health Organization said on Thursday that all countries need to prepare to combat the coronavirus.
$1 = Rs. 72.20
Import Custom Ex. Rate USD/ INR: 72.65
Export Custom Ex. Rate USD/ INR: 70.95
