Weekly Styrene Monomer Report 25th December 2020

        Weekly Price Trend: 21-12-2020 to 25-12-2020

• 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.78/Kg and later as week progressed prices settled at the level of Rs.85/Kg in domestic market.
• Overall prices remained firm and increased heavily in this week. Domestic values were assessed around Rs.85/Kg for bulk quantity at Kandla and Rs.85.5/Kg for Mumbai port of India by end of the week.

Booking Price

INDIA & INTERNATIONAL

• Domestic prices of Styrene Monomer were assessed at the level of Rs.85/Kg for this week.
• Domestic prices remained extremely vulnerable and after a significant rise in last few weeks, again there has been rise in domestic prices for this week.
• The spike in prices has now settled down in domestic market. FOB Korea values were assessed around USD 860-880, reduced by USD 50/MT for this week.
• On other side CFR China prices were assessed in the range of USD 905-925/MT increased by USD 20/MT for this week.
• Downstream Benzene prices has increased for this week. FOB Korea Benzene values were assessed around USD 630/MT for this week, reduced by USD 18/MT for this week. CFR China prices were assessed around USD 610/MT for this week.
• Experts believe that shortage of SM which India often faces due to shortage in the supply will be sorted by end of January next year. The supply has been disrupted as many SM manufacturing units in South Korea has been either shutdown or has undergone unplanned maintenance.
• The other major point is that Indian government has ordered SM importers to undergo mandatory certification from May 2021. However, the deadline is likely to be extended by the Bureau of Indian Standards. 

$1 = Rs. 73.55

Import Custom Ex. Rate USD/ INR: 74.45

Export Custom Ex. Rate USD/ INR: 72.75