Styrene Monomer Weekly Report 29 Sep 2018

Weekly Price Trend: 24-09-2018 to 28-09-2018

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 at Kandla and at Mumbai ports and at the end of the week prices were assessed Rs.106/Kg for bulk quantity at Kandla and Rs 107/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.106/Kg for ex Kandla and Rs 107/kg Mumbai ports.
• This week International SM prices have decreased on bearish demand sentiments.
• Styrene prices increased on tight supply and lower imports.
• South East Asia prices of Sm were evaluated at USD 1420/mt.
• CFR India SM prices were evaluates at USD 1430/mt.
• Asia petrochemical trades slow down ahead of China's Golden Week.
• According to Petrochemical giant Total, the supply disruptions and the delay time associated with OPEC’s ability to increase production could pull up the price to $100 per barrel. This in turn will hamper the economy and the oil industry.
• Disruptions in supply coming from Iran, Venezuela, and Libya give strong support to oil prices and they may head into triple-digit territory. 
• On the other hand, although OPEC has assured to boost production, but output hasn’t increased so much. Saudi Arabia has capacity of 11 million bpd, but boosting production from current levels would need time, because they have to mobilize rigs.
• This week benzene prices have decreased.
• East China benzene inventories drop to 158,000 tonnes.
• As per report, Benzene prices will remain bearish due to an increase in supply for October and November.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 860/mt and USD 865/mt respectively.

 $1 = Rs. 72.48
 Import Custom Ex. Rate USD/ INR: 73.65

 Export Custom Ex. Rate USD/ INR: 71.95