Styrene Monomer Weekly Report 4 October 2019
Weekly Price Trend: 30-09-2019 to 04-10-2019
- 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 improved slightly for this week.
- On Friday domestic values were assessed around Rs.74/Kg for bulk quantity at Kandla and Rs.76/kg for Mumbai ports of India reduced by Rs.2/Kg since beginning of the week.
Booking Price
INDIA& INTERNATIONAL
- The domestic prices of Styrene were assessed at the level of Rs.74/Kg for Kandla and Rs. 76/kg Mumbai ports. Domestic prices reduced by end of the week.
- On other side, FOB Korea values for Styrene were assessed around USD 975-995/MT, with no change in values for this week. CFR China prices also remained stable and were assessed at the level of USD 1020-1020/MT. CFR South East Asia prices of SM were evaluated at USD 735/MT.
- China is celebrating its Golden week festival next week. So most of Chinese markets are not available and will resume work from next week.
- There have been significant changes across the global market affecting the demand for petrochemicals.
- Global auto market has been at its lowest phase affecting the chemical sector associated with automobile sector.
- Global economic factor i.e. slowdown in economies, liquidity crunch and the political differences between China and US has been hampering the global trade and has been making it more polarised. The US$ has been rising due to increased uncertainty, creating currency risk for those who have borrowed in dollars; geopolitical risks are becoming more obvious.
- Chemical industry capacity utilisation, the best leading indicator for the global economy, has been in decline since December 2017, leading to conclusion of recession in near future and the bankruptcies among over-leveraged firms will inevitably increase.
- On Thursday, closing crude values have mixed. WTI on NYME closed at $52.45/bbl. Prices have decreased by 0.19/bbl in compared to last closing prices. While Brent on Inter Continental Exchange is increased by 0.02/bbl in compare to last closing price and was assessed around $57.71/bbl.
PLANT NEWS
SM unit no 2 to be shut down by Jiangsu Leasty
- SM unit will be shut down by Jiangsu Leatsy third week of October. The unit will undergo maintenance on 22nd October for an annual maintenance program. Jiangsu Leatsy will shut down its unit no 2 based at Jiangsu province of China. The unit has the production capacity of 200 KT/year. Unit is likely to resume its production in second week of November 2019.
SP Chemicals restarted its SM unit
- SM unit has been restarted by SP chemicals last week. Earlier the unit was shutdown for annual maintenance in the last week of August. Unit remained off-stream for around 3 weeks.
- Unit is based at Jiangsu province of China and has the production capacity of 320 KT/Year. At present the China market is preparing for its Golden week celebration.
SM unit no 1 to be shut down by Jiangsu Leasty
- SM unit will be shut down by Jiangsu Leatsy in next week. The unit will undergo maintenance on 10 October for an annual maintenance program. Jiangsu Leatsy will shut down its unit no1 based at Jiangsu province of China. The unit has the production capacity of 200 KT/year. Unir is likely to resume its production in third week of October 2019.
$1 = Rs. 70.96
Import Custom Ex. Rate USD/ INR: 72.15
Export Custom Ex. Rate USD/ INR: 70.45
