Styrene Monomer Weekly Report 29 November 2019

 Weekly Price Trend: 25-11-2019 to 29-11-2019

• 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 remained firm with few alterations in the price for this week.
• On Friday domestic values were assessed around Rs.67/Kg for bulk quantity at Kandla and Rs.69/kg 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.67/Kg for Kandla and Rs. 69/kg Mumbai ports. Domestic prices firm for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 815-835/MT, increased by USD 10/MT for this week. CFR China prices also improved for this week. Prices were assessed at the level of USD 865/MT increased by USD 10/MT for this week. South East Asia prices of SM were evaluated at USD 840/MT.
• On other there was an increase in Benzene prices for this week. Benzene the major source for aromatic products also increased for this week.
• Benzene the major source for aromatic products also increased for this week. FOB Korea values for Benzene were assessed around USD 657/MT for this week, while CFR China prices were assessed at the level of USD 665/MT for this week.
• Crude oil prices on Thursday gained Rs 5 at Rs 4,132 per barrel as speculators created fresh positions amid positive trend in spot market.
• Analysts said rising of bets by participants kept crude prices higher in futures trade.
• On the Multi Commodity Exchange, crude for delivery in December traded higher by Rs 5, 0.12 per cent, to Rs 4,132 per barrel in 25,895 lots.
• Refineries across the United States have reduced their total crude oil processing so far in 2019, as demand for oil products both in America and abroad have weakened.
• There has been slowdown in demand at home and weakening demand abroad, and amid a fuel glut in Asia, refiners in the U.S. have processed lower volumes of crude oil so far this year. The cutting of rates has helped refiners avoid a fuel glut domestically, but lower processing rates have built an oversupply in crude, Kemp notes.

$1 = Rs. 71.74

Import Custom Ex. Rate USD/ INR: 72.75

Export Custom Ex. Rate USD/ INR: 71.05