Styrene Monomer Weekly Report 29 March 2019

Weekly Price Trend: 25-03-2019 to 29-03-2019

• 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 in span of one week.
• On Friday domestic values were assessed around Rs.82/Kg for bulk quantity at Kandla and Rs.84/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.82/Kg for Kandla and Rs 84/kg Mumbai ports. Domestic prices have reduced by Rs.2 for both the ports.
• On other side, FOB Korea values for Styrene were assessed around USD 945-965/MT, a massive fall of USD 105/MT in this one week. On other side CFR China prices also reduced by USD 100/MT and were assessed in the range of USD 990-1010/MT. South East Asia prices of SM were evaluated at USD 1090/MT.
• Benzene FOB Korea prices also reduced by USD 90/MT for this week. FOB Korea values were assessed around USD 535/MT. On other side CFR China prices were assessed around USD 545/MT for this week.
• There have been constant fluctuation include prices in international market. US has been worried for the formation of new Middle East bloc comprising of Turkey, Iran and Qatar.
• These nations are already in black list of US, now with strong connection among these countries the trigger is felt by the US government.
• There is one more thing which could derail the oil supplies of US. The quality issue with crude has been a big headache for the manufacturers. Recently two leading Korea importers have cancelled their order for crude from US. Reason behind this declining quality is that there is a massive pipeline network carrying crude oil from the U.S. shale patch to the Gulf Coast ports where it is loaded on tankers and sent to Asia, with South Korea emerging as the biggest buyer of U.S. crude so far this year.
• Yet with so many pipelines—trunks and branches—the oil gets contaminated with various undesirable things, from oil residue to heavy metals, pipe cleaning agents, and a group of compounds called oxygenates. These last ones are particularly worrying for refiners, it seems.
• On Thursday, closing crude values have decreased. WTI on NYME closed at $59.30/bbl. Prices have decreased by $0.11/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.01/bbl in compare to last closing price and was assessed around $67.82/bbl. 

$1 = Rs. 69.21

Import Custom Ex. Rate USD/ INR: 70.00

Export Custom Ex. Rate USD/ INR: 68.35