Styrene Monomer Weekly Report 8 November 2019

Weekly Price Trend: 04-11-2019 to 08-11-2019

• 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 remained firm with no change in values for this week.
• On Friday domestic values were assessed around Rs.68/Kg for bulk quantity at Kandla and Rs.70/kg for Mumbai ports of India by end of the week. 

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.68/Kg for Kandla and Rs. 70/kg Mumbai ports. Domestic prices remained unchanged for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 850-870/MT, with no change in values for this week. CFR China prices also remained firm and stable for this week and were assessed at the level of USD 890-910/MT. South East Asia prices of SM were evaluated at USD 910/MT.
• Benzene the major source for aromatic products also remained stable for this week. FOB Korea values for Benzene were assessed around USD 625/MT for this week, while CFR China prices were assessed at the level of USD 645/MT for this week.
• Crude prices have been under pressure as uncertainties around the 16-month long trade war between the United States and China exhausted the demand prospects for oil. No concrete outcome of the prolonged trade and tariff spat continue to undermine the demand prospects for Crude and push the prices lower.
• Weak economic data from China and U.S. amid fading optimism over a possible trade deal between U.S. & China might weigh on the prices.
• Moreover, rising U.S. Crude inventory levels might further weigh on the prices. On the MCX, oil prices are expected to trade lower today; international markets are trading lower by 0.12 percent at $56.28 per barrel.
• On Thursday, closing crude values have increased. WTI on NYME closed at $57.15/bbl. Prices have increased by 0.80/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.55/bbl in compare to last closing price and was assessed around $62.29/bbl. 

$1 = Rs. 71.24

Import Custom Ex. Rate USD/ INR: 72.00

Export Custom Ex. Rate USD/ INR: 70.30