Styrene Monomer Weekly Report 31 May 2019

Weekly Price Trend: 27-05-2019 to 31-05-2019

• 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 remained stable with no change in domestic prices.
• On Friday domestic values were assessed around Rs.78/Kg for bulk quantity at Kandla and Rs.80/kg for Mumbai ports of India.

Booking Price

INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.78/Kg for Kandla and Rs 80/kg Mumbai ports. Domestic prices remained unchanged for this week.
• On other side, FOB Korea values for Styrene were assessed around USD 1035-1055/MT, increased by USD 10/MT in this one week. On other side CFR China prices also increased by USD 10/MT for this week and were assessed at the levels of USD 1085/MT for this week. South East Asia prices of SM were evaluated at USD 1070/MT.
• Benzene FOB Korea prices were assessed at the level of USD 635/MT increased by USD 10/MTS in international prices. On other side CFR China prices were assessed around USD 639/MT for this week.
• Oil prices have been plunging to its lowest levels since March 2019. The reason behind this has been the stockpiling in US since March 2019 following a smaller than expected drop in weekly inventories.
• West Texas was recorded at $ 56.55/barrel this week, decline by 4% in this week. On other side, Brent was recorded at $66.4/barrel declined by 4.4% for this month.
• On Thursday day, closing crude values have decreased. WTI on NYME closed at $56.59/bbl. Prices have decreased by 2.22/bbl in compared to last closing prices. While Brent on Inter Continental Exchange decreased by $2.58/bbl in compare to last closing price and was assessed around $66.87/bbl. 

PLANT NEWS

SM unit shut down by Shandong Huaxing

• Shandong Huaxing Petrochemical has shut down its SM unit for maintenance turnaround. The unit has been shutdown as per annual maintenance schedule. It is likely to remain off-stream for 40 days and is expected to restart its production by the first week of June 2019.
• Unit is based at Shandong in China and has the production capacity of 80,000 tonnes/year. 

$1 = Rs. 69.68

Import Custom Ex. Rate USD/ INR: 71.15

Export Custom Ex. Rate USD/ INR: 69.50