Styrene Monomer Weekly Report 30 Dec 2017
Weekly Price Trend: 25-12-2017 to 29-12-2017
- 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.98/Kg for bulk quantity at Kandla and Rs 98/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.98/Kg for ex Kandla and Rs 98/kg Mumbai ports.
- CIF India prices were assessed at the level of USD 1300/MT.
- This week SM prices have remained firm on weak buying sentiments and seasonal break.
- This week despite increase in crude oil prices SM prices have remained firm on bearish buying sentiments.
- Dalian Hengli will start its Styrene unit in the fourth quarter of 2018. The unit is expected to start its production the last quarter of 2018. This unit is one of many other several downstream units of Benzene which are likely to go on-stream in the year 2018. The unit is based in North east of China and has the manufacturing capacity of 7,20,000 mt/year.
- Anhui Haoyuan will start its Styrene unit in the second quarter of 2018. The unit is expected to start its production by June 2018. This unit is one of many other several downstream units of Benzene which are likely to go on-stream in the year 2018. The unit is based in South China and has the manufacturing capacity of 2,60,000 mt/year.
- As per market analyst, In the first half of 2018, market will remain quite bullish as Saudi Arabia continues to signal its intent to privatize part of Saudi Aramco, the state-owned oil company, in an initial public offering expected in late 2018. As such, the Saudis will be quite motivated to keep prices up going into that sale. The risk to that outlook could become apparent if Russia stops cooperating, which has been a significant tipping factor in the cuts' effectiveness.
- Feedstock benzene prices have increased in Asian market this week.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 870/mt and USD 885/mt respectively.
$1 = Rs. 63.87
Import Custom Ex. Rate USD/ INR: 64.90
Export Custom Ex. Rate USD/ INR: 63.20
