Styrene Monomer Weekly Report 29 April 2017

Weekly Price Trend: 24-04-2017 to 28-04-2017

• 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 decreased in compare to previous week and at the end of the week prices were assessed Rs.82.5/Kg for bulk quantity at Kandla and Rs 84.5/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.82.5/Kg for ex Kandla and Rs 84.5/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1200/MT.
• This week FOB Korea prices were assessed USD 1065/MTS prices have decreased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1080-1100/MTS, prices decreased in compare to previous week.
• This week SM prices sharply have plunged as demand sentiments have been lower.
• In China market SM prices sharply have declined, presently all the chemicals market is moving with downward pace.
• As per market players near term demand outlook will be uncertain.
• Through the week oil prices have remained volatile. As per recent data in last 15 days oil prices sharply have stabbed rapidly, WTI from $53 a barrel down to $48 while Brent declined from $55 to $51. The falling oil means weakening economic demand, the reality is that oil is being driven by increased supply. On Thursday oil prices have plunged as the resume of two key Libyan oilfields and concerns about dreary gasoline demand fed concern over whether major oil producers can lessen the glut of global inventories.
• On Thursday, closing crude values have decreased.WTI on NYME closed at $48.97/bbl, prices have increased by $0.65/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.38/bbl in compared to last trading and was assessed around $51.44/bbl.
• As per market analyst As gas prices drop, that creates an undertow for the entire crude oil market. The outlook for oil prices will remain unstable. decline in crude prices and therefore petroleum product prices also means corresponding reduction in prices of some of the raw materials for the petrochemical industry. Hence, it can be a factor in improving the profitability of that industry.
• For the current week SM prices have decreased as feedstock benzene prices also have decreased on account of dull buying sentiment across the region.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 765/mt and USD775/mt respectively.

$1 = Rs. 64.24
Import Custom Ex. Rate USD/ INR: 65.55
Export Custom Ex. Rate USD/ INR: 63.85