Weekly Styrene Monomer Report 11th December 2020
Weekly Price Trend: 07-12-2020 to 11-12-2020
- If we take a quick look at the above given weekly prices, it can be observed that domestic prices remained vulnerable for this week.
- Market opened with values of Rs.81/Kg and later as week progressed prices settled at the level of Rs.79/Kg in domestic market.
- Overall prices remained soft-to-stable for this week. Domestic values were assessed around Rs.79/Kg for bulk quantity at Kandla and Mumbai ports of India by end of the week.
Booking Price
INDIA & INTERNATIONAL
- Domestic prices of Styrene Monomer were assessed at the level of Rs.79/Kg for this week.
- Domestic prices remained extremely vulnerable and after a significant rise in last few weeks, prices started to decline in domestic market.
- With a sudden rise in prices in last few weeks in international market now prices are lowering and heading towards its normal range. But this week there was an increase in FOB Korea values. Prices were assessed around USD 980/MT, increased by USD 35/MT for this week.
- CFR China prices were assessed in the range of USD 865-885/MT reduced by USD 90/MT for this week.
- CFR SEA prices were assessed around USD 895/MT reduced by USD 85/MT for this week.
- Downstream Benzene prices has increased for this week. FOB Korea Benzene values were assessed around USD 625/MT for this week, increased by USD 20/MT for this week. CFR China prices were assessed around USD 618/MT for this week.
- Lotte chemical restarted its Daesan Cracker
Cracker has been restarted by Lotte Chemical. Earlier the cracker was shut down nine months back owing explosion in its upstream cracker in March. Now the cracker has resumed its production. The commercial output is likely to resume by December end. Unit has the SM production capacity of 5,80,000 mt/year.
- New Ethylene project by Sinopec at Tianjin, China
Sinopec has announced a major new project to make ethylene, in order to boost up its domestic capacity. Ethylene is key chemical in plastics manufacturing. The new project will see Sinopec invest 28.8 billion yuan ($4.4 billion) on an ethylene cracker with annual capacity of 1.2 million tons in the northern city of Tianjin. The regulatory approval is being awaited for the project.
$1 = Rs. 73.65
Import Custom Ex. Rate USD/ INR: 74.70
Export Custom Ex. Rate USD/ INR: 73.00
