Styrene Monomer Weekly Report 4 Jan 2019
Weekly Price Trend: 31-12-2018 to 04-01-2019
- 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 vulnerable for most of the week with sudden rise in the values by end of the week.
- On Friday domestic values were assessed around Rs.81/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.81/Kg for Kandla and Rs 83/kg Mumbai ports.
- FOB Korea values for Styrene were assessed around USD 940/MT increased by USD 15/MT in one week. On other side CFR China prices also decreased by USD 990/MT, again increased by USD 20/MT for this week.
- South East Asia prices of SM were evaluated at USD 970/MT. In compare to other prices there has been decline in values for South East Asian market.
- Benzene FOB Korea prices improved by USD 5/MT in this week. FOB Korea values were assessed around USD 520/MT. On other side CFR China prices were assessed around USD 540/MT for this week.
- Benzene supply has been splendid in the year 2018. Oversupply has put pressure on the international prices in Asian market. There has been many new start-ups in Asia and Middle East adding to the existing capacities. The god this is that majority of new downstream capacities of key downstream styrene monomer (SM) are also planned to come onstream from 2020 and beyond. Based on the current start-up schedule, it appears that benzene supply in Asia and the Middle East will increase by 3.6m tonnes in 2019, while the total increase for SM is expected to be around 2.2m tonne.
- There has been significant lowering in crude prices in last few weeks. With end of week last week Brent and WTI witnessed hike in its values on back of improvement in US and CHINA trade talks.
- Oil prices increased by more than 1 percent on Monday with an optimistic view of discussion between USD and Chinese delegations. This could lead to supply cuts by major producers to support the market.
- Brent crude futures were at $57.75 per barrel at 0404 GMT, up 69 cents, or 1.2 percent, from their last close. U.S. West Texas Intermediate (WTI) crude oil futures were at $48.67 per barrel, up 71 cents, or 1.5 percent.
PLANT NEWS
SM unit shut down by Changzhou Dohow Chemical
- Changzhou Dohow Chemical has shut down its SM unit for maintenance turnaround. Changzhou Dohow Chemical is a subsidiary of New Solar group. The unit was shut down last week for maintenance schedule. Unit is likely to remain off-stream for around one month and will resume its production in the second week of January 2019.
- Unit is based at Jiangsu province of China and has the production capacity of 2,00,000 mt/year.
$1 = Rs. 69.87
Import Custom Ex. Rate USD/ INR: 71.25
Export Custom Ex. Rate USD/ INR: 69.55
