Styrene Monomer Weekly Report 22 July 2017

Weekly Price Trend: 17-07-2017 to 21-07-2017
 

• 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 have remained firm in compare to previous week and at the end of the week prices were assessed Rs.81/Kg for bulk quantity at Kandla and Rs 82/kg for Mumbai ports of India.

Total import at various ports of India June, 2017

Above chart represent the total imported quantity of Styrene Monomer for the month of June 2017. Previous month total imports were around 106008MT. As per chart last month at Kandla port imports were higher while at Hazira port imported quantity was lesser.

Booking Price

INDIA& INTERNATIONAL

• The domestic prices of Styrene were assessed at the level of Rs.81/Kg for ex Kandla and Rs 82/kg Mumbai ports.
• CIF India prices were assessed at the level of USD 1150/MT.
• This week FOB Korea prices were assessed USD 1160/MTS prices have remained firm in compared to last week’s closing prices.
• CFR China prices were assessed in the range of USD 1180-1200/MTS, prices have remained firm in compare to previous week.
• In Asian market SM demand sentiments have remained bearish no major deals and discussion has been heard.
• This week oil prices have followed volatility in the market. Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories. On Thursday , oil settled lower in uneven trading.Closing crude values have decreased.WTI on NYME closed at $46.92/bbl, prices have decreased by $0.40/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $0.40/bbl in compared to last trading and was assessed around $49.30/bbl.
• Russia is ready to continue working with OPEC to help rebalance oil markets, Moscow welcomed a flexible approach by OPEC's leader Saudi Arabia to accommodate rising output from Nigeria and Libya, said by source.
• Market players predicted that prices would hold near current levels ahead of Monday's meeting between key OPEC and non-OPEC producers in St. Petersburg, Russia. The market has been watching reports that Saudi Arabia, the world's largest crude producer, is considering an additional supply cut to reduce the global glut.
• FOB Korea and CFR China prices of Benzene were evaluated at USD 725/mt and USD745/mt respectively.

$1 = Rs. 64.32
Import Custom Ex. Rate USD/ INR: 65.65
Export Custom Ex. Rate USD/ INR: 63.95