Styrene Monomer Weekly Report 8 April 2017

Weekly Price Trend: 03-04-2017 to 07-04-2017

• 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 remained firm in compare to previous week and at the end of the week prices were assessed Rs.87/Kg for bulk quantity at Kandla and Rs 89/kg for Mumbai ports of India.

Total import for last six months

Above graph represents the total import quantity of Styrene Monomer in previous six months. As per chart In total imports were around 464817mt.In last six months in the month of January, 2017 higher quantity has been imported while in October import were lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.88/Kg for ex Kandla and Rs 89/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1275/MT.
• This week FOB Korea prices were assessed USD 1190/MTS prices have increased in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1210-1230/MTS, prices increased in compare to previous week.
• This week demand sentiments have improved from end user sector on account of this SM prices have increased.
• Presently upstream sector prices also have improved which has resulted in increase in SM prices.
• As per report, Keyuan Petrochemical shut its styrene monomer plant on 7thApril for maintenance turnaround. It is located at Ningbo, Zhejiang province having the productin capacity of around 100kt/yr. The company planned to restart the plant in end May. The company was expected to start a new 100kt/year SM plant in the same site after finishing the maintenance work at the existed plant.
• This week with the increase in oil prices and improved demand sentiments SM prices also have increased.
• Oil prices have increased but market players remained vigilant about record-high U.S. crude inventories.
• On Friday U.S. crude futures jumped more than in Asia after President Trump ordered the first direct American military action against the regime of Syrian President Bashar al-Assad.
• Presently traders have been watching U.S. gasoline inventories as an indicator of what may happen with crude supplies.
• As per market analyst the dollar has come under some pressure of late and this pushes up oil as well as the U.S. dollar value of offshore earnings. Traders say oil is likely to remain in its recent wide range. OPEC Secretary said that that the oil market is already rebalancing and global oil inventories are starting to come down after three months of output cuts by OPEC and their 11-non-OPEC partners. While rising U.S. crude production has some OPEC members calling for an extension of the cuts through December.
• On Thursday, closing crude values have increased.WTI on NYME closed at $51.70/bbl, prices have increased by $0.55/bbl in compared to last closing prices. While Brent on Inter Continental Exchange increased by $0.53/bbl in compared to last trading and was assessed around $54.89/bbl.
• For the current week SM prices have increased as feedstock benzene prices also have increased.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 850/mt and USD850/mt respectively.

$1 = Rs. 64.28
Import Custom Ex. Rate USD/ INR: 65.90
Export Custom Ex. Rate USD/ INR: 64.20