Styrene Monomer Weekly Report 4 September 2020

Weekly Price Trend: 31-08-2020 to 04-09-2020

• If we take a quick look at the above given weekly prices, it can be observed that there has been decline in domestic prices in the initial days of the week itself.
• On Friday domestic values were assessed around Rs.55/Kg for bulk quantity at Kandla and for Mumbai ports of India by end of the week. Prices declined by Rs.2/Kg for this week.

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INDIA& INTERNATIONAL 

• The domestic prices of Styrene were assessed at the level of Rs.55/Kg for Kandla and for Mumbai ports. Domestic prices reduced by Rs 2/Kg for this week.
• FOB Korea values for SM were assessed at the level of USD 650/MT for this week. While CFR China prices were assessed at the level of USD 660/MT for this week.
• FOB Korea values for Benzene were assessed around USD 432/MT for this week. There has been reduction of USD 10/MT for this week. CFR China prices were assessed at the level of USD 442/MT for this week.
• Asian petrochemical segment remained stable and calm in spite of shutdown of major refineries across the globe. There has been shutdown of major refineries in US due to hurricane Laura in southwest Louisiana.
• On Thursday closing, there was slight decline in crude prices. WTI on NYME closed at $41.37/bbl. Prices reduced by $0.14/bbl in compared to last closing prices. While Brent on Inter Continental Exchange has reduced by $0.36/bbl in compare to last closing price and was assessed around $44.07/bbl.
• Formosa Petrochemical Corporation has shutdown its cracker no3 for maintenance turnaround. The unit was shutdown I n the second week of August. According to company sources the unit is likely to remain off-stream till September end. Unit is based at Mailiao in Taiwan and has the production capacity of Ethylene around 1.2 mln mt/year and Propylene capacity around 6,00,000 mt/year.
• ABEL Chemical will soon shutdown its SM unit for maintenance turnaround. The unit is likely to undergo schedule maintenance third week and will remain off-stream for 6-7 weeks. Unit is based at Taixing in Jiangsu province of China and has the production capacity of Styrene around 2,50,000 mt/year.

$1 = Rs. 73.13

Import Custom Ex. Rate USD/ INR: 74.10

Export Custom Ex. Rate USD/ INR: 72.40