Styrene Monomer Weekly Report 7 Dec 2018

Weekly Price Trend: 03-12-2018 to 07-12-2018

• 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 remained stable for most of the week with sudden rise in the values by end of the week.
• On Friday domestic values were assessed around Rs.83/Kg for bulk quantity at Kandla and Rs. 84/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.83/Kg for Kandla and Rs 84/kg Mumbai ports.
• FOB Korea values for Styrene were assessed around USD 990/MT increased by USD 40/MT in one week. On other side CFR china prices also increased by USD 30/MT for this week.
• South East Asia prices of SM were evaluated at USD 975/mt. In compare to other prices there has been decline in values for South East Asian market.
• Benzene FOB Korea prices declined by more than USD 15/MT in this week. FOB Korea values were assessed around USD 640/MT. On other side CFR China prices remained stable for this week. CFR south East Asia price were evaluated at USD 670/mt.
• Crude market has remained vulnerable throughout this week.  There has been significant decline in olefins prices and aromatic products in this week. The constant decline in crude values has plummeted the immediate prices for Benzene and Toluene and Styrene. Crude oil prices fell steeply this year from 4 October, helping to push naphtha costs lower and putting pressure on prices downstream. In last one month Toluene prices has reduced by more than 20% and is likely to remain weak in this week as well.
• Market is looking forward for China and US trade war. Oil prices fell on Friday as Opec discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board.  International Brent crude oil futures fell below $60 per barrel, trading at $59.53 per barrel at 0750 GMT, down 53 cents, or 0.9 per cent from their last close. 
• On other side India has signed an agreement with Iran to pay for crude oil t imports from the Persian Gulf nation in rupees, Under US sanctions, India can export foodgrains, medicines and medical devices to Iran. India had won the exemption after it agreed to cut imports maximum of 300,000 barrels a day of crude oil. This compares to an average daily import of about 560,000 barrels this year.

 $1 = Rs. 70.77

 Import Custom Ex. Rate USD/ INR: 71.75

 Export Custom Ex. Rate USD/ INR: 70.05