Weekly Styrene Monomer Report 29th January 2021

       Weekly Price Trend: 25-01-2021 to 29-01-2021

• If we take a quick look at the above given weekly prices, it can be observed that domestic prices remained volatile for this week.
• Market opened with values of Rs.87/Kg and later as week progressed prices peaked to the level of Rs.91/Kg and later reduced to the level of Rs.86/Kg. Overall prices remained firm and later reduced in this week.

 Booking Price

 INDIA & INTERNATIONAL

• Domestic prices of Styrene Monomer were assessed at the level of Rs.87/Kg for this week.
• FOB Korea prices were assessed around USD 965-985/MT for this week. Prices has increased by USD 30/MT in last one week.
• China prices were assessed around USD 985-1005/MT, increased by USD 35/MT in last one week.
• On other side downstream Benzene prices firm for this week. There has been no major change in Benzene prices for this week. FOB Korea Benzene values were assessed around USD 660/MT for this week. CFR China prices were assessed around USD 655/MT for this week.
• Market is likely to remain softened as no major announcements were heard in the international market. However, the shortage in the availability of container in Middle East has affected the petrochemical segment badly and condition is likely to continue for few more weeks.
• Markets are likely to remain bullish in countries like China due to Lunar vacation.
• SM manufacturing plants like Changzhou New Solar Chemical, has undertaken an unplanned shut down at its SM units due to power failure.  The unit is based at Changzhou, Jiangsu in China and the two SM units have a production capacity of 650,000 MT/year.
• SP Chemicals has also shutdown its SM plant for maintenance. The units are likely to resume its production in the first week of February. Unit is based at Taixing in Jiangsu and has the production capacity of 3,20,000 MT/year.

$1 = Rs. 72.95

Import Custom Ex. Rate USD/ INR: 73.85

Export Custom Ex. Rate USD/ INR: 72.10