Styrene Monomer Weekly Report 28 June 2019

Weekly Price Trend: 24-06-2019 to 28-06-2019

• 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 reduced significantly for this week.
• On Friday domestic values were assessed around Rs.76/Kg for bulk quantity at Kandla and Rs.78/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.76/Kg for Kandla and Rs. 78/kg Mumbai ports. Domestic prices reduced for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 1005-1025/MT, reduced by USD 20/MT in this week. On other side CFR China prices also reduced for this week. Prices were reduced by USD 30/MT for this week and were assessed at the level of USD 1050/MT for this week. South East Asia prices of SM were evaluated at USD 1055/MT.
• On contrary, Benzene the major source for SM has remained stable with no change in values for this week.FOB Korea values were assessed in the range of USD 635/MT. CFR China prices were assessed at the level of USD 625/MT.
• Oil prices remained firm on Friday, with focus shifting to the G20 summit where a scheduled meeting between US President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease.
• A trade dispute between the world's two biggest economies has weighed on oil prices, fanning fears that slowing economic growth could dent demand for the commodity.
• According to experts "While there are no expectations of a truce between the two parties, it will set the scene for the OPEC meeting a couple of days later.
• The Organization of Petroleum Exporting Countries (OPEC) and some non-members including Russia, known as OPEC+, will hold meetings on July 1-2 in Vienna to decide whether to extend their supply cuts.

$1 = Rs. 69.05

Import Custom Ex. Rate USD/ INR: 70.40

Export Custom Ex. Rate USD/ INR: 68.70