Styrene Monomer Weekly Report 6 September 2019

Weekly Price Trend: 02-09-2019 to 06-09-2019

• 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 slightly for this week.
• On Friday domestic values were assessed around Rs.77/Kg for bulk quantity at Kandla and Rs.79/kg for Mumbai ports of India improved by Rs.1/Kg for both the ports.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.77/Kg for Kandla and Rs. 79/kg Mumbai ports. Domestic prices improved with inception of this week itself.
• On other side, FOB Korea values for Styrene were assessed around USD 1015-1035/MT, heavily increased by USD 50/MTS in this week. On other side CFR China prices also improved for this week and were assessed at the level of USD 1055-1075/MT with an increase of USD 50/MT for this week. South East Asia prices of SM were evaluated at USD 995/MT.
• The ongoing tensions between India and neighbouring state have been a matter of concern. The neighbouring state has cut down its all ties with India. Although this will not have major impact on India economy.
• Benzene the major source for aromatic products has also improved for this week. FOB Korea values for Benzene were assessed around USD 687/MT, increased by USD 7/MT for this week, while CFR China prices also improved and were assessed at the level of USD 687/MT for this week.
• On Thursday, closing crude values have increased. WTI on NYME closed at $56.30/bbl. Prices have increased by 0.04/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.25/bbl in compare to last closing price and was assessed around $60.95/bbl. 

PLANT NEWS

Osaka cracker to be shut down for maintenance by Mitsui Chemicals

• Mitsui Chemicals has announced its maintenance schedule for its Oska cracker. The company has announced its maintenance schedule for the year 2020. Unit is likely to go off-stream in the month of July 2020. The unit is likely to remain off-stream for around one month.
• Unit is based at Osaka, Japan, the cracker has an ethylene capacity of 450,000 mt/year and a propylene capacity of 280,000 mt/year. 

$1 = Rs. 71.72

Import Custom Ex. Rate USD/ INR: 72.80

Export Custom Ex. Rate USD/ INR: 71.10