Styrene Monomer Weekly Report 12 April 2019

Weekly Price Trend: 08-04-2019 to 12-04-2019

• 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 improved significantly in span of one week.
• On Friday domestic values were assessed around Rs.82/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.82/Kg for Kandla and Rs 84/kg Mumbai ports. Domestic prices have improved by Rs.2 for both the ports.
• On other side, FOB Korea values for Styrene were assessed around USD 1020-1040/MT, reduced by USD 20/MT in this one week. On other side CFR China prices also reduced by USD 20/MT for this week. South East Asia prices of SM were evaluated at USD 1060/MT.
• Benzene FOB Korea prices has again witnessed rise in international prices. Values were assessed at the level of USD 630/MT increased by USD 25/MT in one week. On other side CFR China prices were assessed around USD 710/MT for this week.
• US President is trying hard to completely cut off imports from Iran. Soon it will take the decision of complete shutting of waiver provided to other five nations. This complete hold off will choke the supply of crude in international market and will push up the prices.
• Since the cost of U.S. crude oil has jumped 12%, international Brent crude is trading above $70 a barrel, and the national average gasoline price is up 30 cents a gallon.
• The primary reason for the run-up is simple: The market is tightening. That means a global oversupply of crude is draining, bringing supply and demand into balance and putting the market at risk of flipping into shortage.
• Venezuelan crude production has dropped below 1 million barrels per day (bpd) due to U.S. sanctions, the International Energy Agency said on Thursday, even below the 960,000 bpd OPEC reported on Wednesday. 

PLANT NEWS

SM plant shutdown by Hanwha Petrochemical

• Hanwha Petrochemical has shut down its SM plant for maintenance turnaround. The company has shut down its no2 unit for maintenance in the last week of March 2019.
• The unit is likely to remain off-stream for around 45 days and is expected to resume its production on 9^th May 2019.
• Unit is based at Daesan in South Korea and has the production capacity of 6,50,000 mt/year.

SM plant to be shut down by FCFC

• Formosa Chemicals and Fibre Corp will shutdown its SM unit for maintenance turnaround. The unit is likely to go off-stream on 18^th April 2019. The unit is likely to remain off-stream for around 45 days and may resume its production by May end.
• Unit is based at Mailiao in Taiwan and has the production capacity of 7,20,000 mt/year.

SM unit to be shut down by Changzhou New Solar of China

• China based Changzhou New Solar will shut down its SM unit for maintenance turnaround. The other reason for this shut down is stated as some technical faults in the operation of the unit. The unit is likely to go off-stream by this weekend and will remain off-stream for around three weeks. Unit will resume its production in the first week of May.
• Unit is based at Changzhou Jiangsu, China and has the production capacity of 3,00,000 tonnes/year.

$1 = Rs. 69.27

Import Custom Ex. Rate USD/ INR: 69.45

Export Custom Ex. Rate USD/ INR: 67.75