Styrene Monomer Weekly Report 30 Sep 2017
Weekly Price Trend: 25-09-2017 to 29-09-2017
- 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 increased in compare to previous week and at the end of the week prices were assessed Rs.94/Kg for bulk quantity at Kandla and Rs 94/kg for Mumbai ports of India.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.94/Kg for ex Kandla and Rs 94/kg Mumbai ports.
- CIF India prices were assessed at the level of USD 1350/MT.
- This week FOB Korea prices were assessed USD 1270/MTS prices have remained firm in compared to last week’s closing prices.
- This week styrene prices have remained firm ahead of National Day holiday from 1st to 7th October in China.
- Market players have said that Europe Oct SAN price expected to fall if styrene settles down.
- Presently styrene monomer market is moving with soft velocity no major deals and discussion has been heard.
- FOB Korea and CFR China prices of Benzene were evaluated at USD 780/mt and USD 790/mt respectively.
- This week oil prices have followed mixed trend. Investors have really gained confidence in oil, after the OPEC cuts that were originally discussed earlier in the year are starting to take shape here, and oil production is being curbed.
- On Thursday, closing crude values have plunged.WTI on NYME closed at $51.56/bbl, prices have decreased by $0.58/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.49/bbl in compared to last trading and was assessed around $57.41/bbl.
- Due to the combination of production cuts and growing demand, oil could head up to its 2017 high, just above $55, or even $60 per barrel by year-end. A global supply glut has plagued the market for several years, and OPEC member countries and non-member producers have vowed to implement cuts to curb such oversupply.
$1 = Rs. 65.28
Import Custom Ex. Rate USD/ INR: 65.40
Export Custom Ex. Rate USD/ INR: 63.70
