In India Styrene is majorly imported on Mumbai and Kandla ports. Ennore, Vizag Sea and Dahej are the other ports where Styrene is being imported.
For daily price, we follow the same procedure as mentioned above in the Daily pricing methodology.
For international prices our team regularly communicates with key participants in order to gain information about the international market.
Here we ask the key participants to bid their prices. We make sure that all the entities submit the relevant documents to make the price assessment more relevant and appropriate.
By Friday noon the bidding window is closed. As mentioned earlier, along with the prices the participants submit the key documents in order to support their prices.
Our team analyse these prices on several factors. Here market dimensions are studied well. Company rationale, traders documents, current market scenario, last week’s assessed prices, order sizes, quantity details, traded quantity, ordered quantity, delivery information are some of the key factors taken into consideration.
Since Benzene and Ethylene are feedstock for Styrene, any fluctuation in the prices of Benzene and Ethylene becomes one of the key factors contributing to the price assessment.
Styrene is mainly used in PS (polystyrene) and EPS (Expandable Polystyrene), so demand from these sectors is also one of the major concerns for Styrene prices.
Later a comparative analysis is being carried out for all the prices. In the end, price which is more suitable and prompt is decided. Inference of this analysis is published in our market report as international price.
This assessed information is then published in our weekly report.
Styrene is majorly imported from following countries in India-Kuwait, Saudi-Arabia and Singapore.
For CFR India and China, cost and freight is included. For FOB the prices does not include the shipping charges.
FOB (Freight on Board) prices is generally taken or the material being imported from Korea.