Styrene Monomer Weekly Report 5 July 2019

Weekly Price Trend: 01-07-2019 to 05-07-2019

• 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 has improved significantly for this week.
• On Friday domestic values were assessed around Rs.78/Kg for bulk quantity at Kandla and Rs.80/kg for Mumbai ports of India.  

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.78/Kg for Kandla and Rs. 80/kg Mumbai ports. Domestic prices increased for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 1015-1035/MT, increased by USD 10/MT in this week. On other side CFR China prices also increased for this week. Prices were increased USD 15/MT for this week and were assessed at the level of USD 1065/MT for this week. South East Asia prices of SM were evaluated at USD 1035/MT.
• There has been increment in Benzene values as well in international market. Benzene the major source for SM has affected significantly SM values. FOB Korea values were assessed in the range of USD 655/MT, increased by USD 20/MT for this week. CFR China prices were assessed at the level of USD 655/MT, increased by USD 30/MT for this week.
• Market will react more aggressively in India as today first budget has been declared by the new government. The implication of budget on petrochemical segment will be visible on Monday.
• Crude oil prices fell on Friday on weak economic indicators from the United States and Germany, shrugging off tensions around Iran and this week's decision by OPEC and its allies to extend a supply cut deal until next year.
• Oil prices eased lower on Friday morning as concerns over global economic growth offset escalating geopolitical tensions in the Middle East
• Weak industrial demand gave a bearish signal for oil demand. Global growth remains the main factor holding back crude prices," said Alfonso Esparza, senior analyst at OANDA. The OPEC+ deal will keep prices from falling too hard, but there must be an end to trade protectionism to assure the demand for energy products recovers.
• On Thursday day, closing crude values have remained same. WTI on NYME closed at $57.34/bbl. Prices have remained same in compared to last closing prices. While Brent on Inter Continental Exchange have remained same in compare to last closing price and was assessed around $63.82/bbl. 

$1 = Rs. 68.42

Import Custom Ex. Rate USD/ INR: 69.75

Export Custom Ex. Rate USD/ INR: 68.05