Styrene Monomer Weekly Report 30 June 2018
Weekly Price Trend: 25-06-2018 to 29-06-2018
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 increased at Kandla and Mumbai ports and at the end of the week prices were assessed Rs.100/Kg for bulk quantity at Kandla and Rs 100/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.100/Kg for ex Kandla and Rs 101/kg Mumbai ports.
- CIF India prices were assessed at the level of USD 1380/MT.
- This week SM prices have decreased on bearish feedstock benzene prices and sluggish demand trends in major markets like China.
- This week crude oil prices have escalated. On Thursday oil prices climbed, with U.S. crude hitting a three-and-a-half year high, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran.
- On Thursday, closing crude values have increased. WTI on NYME closed at $73.45/bbl; prices have increased by $0.69/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.23/bbl in compare to last closing price and was assessed around $77.85/bbl.
- On Friday, oil prices dipped amid escalating trade friction between the United States and other major economies, although crude markets remain tight due to supply disruptions and generally high demand.
- This week East China benzene inventories plunged.
- This week benzene prices have remained firm.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 815/mt and USD 815/mt respectively.
$1 = Rs. 68.47
Import Custom Ex. Rate USD/ INR: 69.10
Export Custom Ex. Rate USD/ INR: 67.40
