Styrene Monomer Weekly Report 18 October 2019

Weekly Price Trend: 14-11-2019 to 18-10-2019

• 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 reduced slightly for this week.
• On Friday domestic values were assessed around Rs.71/Kg for bulk quantity at Kandla and Rs.73/kg for Mumbai ports of India reduced by Rs.1/Kg by end of the week. 

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.71/Kg for Kandla and Rs. 73/kg Mumbai ports. Domestic prices reduced by end of the week.
• On other side, FOB Korea values for Styrene were assessed around USD 875-895/MT, reduced by USD 60/MTS for this week. CFR China prices also decline significantly for this week and were assessed at the level of USD 915-935/MT. South East Asia prices of SM were evaluated at USD 955/MT.
• Indian markets are operating on reduced rate as country is festive mood. Next week there will be diwali celebrations across the nation with long extended vacations.
• Benzene the major source for aromatic products also remained unchanged for this week. FOB Korea values for Benzene were assessed around USD 660/MT for this week, while CFR China prices were assessed at the level of USD 670/MT for this week.
• Oil futures finished higher Thursday, as the U.S. and Turkey reached a cease-fire pact in Syria, temporarily easing Middle East tensions, and a tentative Brexit deal fueled appetite for assets perceived as risky.
• Oil prices had traded mostly lower shortly after the Energy Information Administration on Thursday reported that U.S. crude supplies climbed for a fifth week in a row, by 9.3 million barrels for the week ended Oct.
• “Inventories have built by a whopping 9.3 million barrels, led by the refinery utilization rate dropping to its lowest since hurricane Harvey in September 2017.
• A release of 1.3 million barrel has only rubbed salt into the wounds of the bulls, adding to today’s crude build.
• On Thursday, closing crude values have increased. WTI on NYME closed at $53.93/bbl. Prices have increased by 0.57/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.49/bbl in compare to last closing price and was assessed around $59.91/bbl. 

$1 = Rs. 71.13

Import Custom Ex. Rate USD/ INR: 72.15

Export Custom Ex. Rate USD/ INR: 70.45