Styrene Monomer Weekly Report 3 June 2017

Weekly Price Trend: 29-05-2017 to 02-06-2017
 

• 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 remained firm in compare to previous week and at the end of the week prices were assessed Rs.82/Kg for bulk quantity at Kandla and Rs 83/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 ex Kandla and Rs 83/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1130/MT.
• This week FOB Korea prices were assessed USD 1075/MTS prices have remained firm in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1090-1110/MTS, prices remained firm in compare to previous week.
• This week styrene prices have remained firm as no major deals and discussion has been heard.
• Presently upstream benzene prices have decreased as demand stipulations remained bearish across the region.
• This week oil prices have followed volatile trend. After OPEC, Russia and other producers extended their agreement to curb output by 1.8 million barrels a day for another nine months, to force a rebalancing of the oil market, the bearish tone in the oil sector resurfaced.
• As per report, U.S. oil supplies dropped by 6.4 million barrels last week, a positive for the market and a much bigger decline than expected. On Thursday U.S. crude up slightly after a larger-than-expected domestic inventory drawdown.
• On Thursday, closing crude values have increased.WTI on NYME closed at $48.36/bbl, prices have increased by $0.04/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.02/bbl in compared to last trading and was assessed around $50.33/bbl.
• As per market report, U.S. production increased, and the expectation is that ongoing activity in U.S. shale will continue to boost output, offsetting OPEC efforts.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 750/mt and USD765/mt respectively.

$1 = Rs. 64.44
Import Custom Ex. Rate USD/ INR: 65.35
Export Custom Ex. Rate USD/ INR: 63.70