Strong Demand prevailing in the country’s market amid supply shortage – 12 Feb 2015

Demand of the Styrene monomer strong in the major chemical hubs of India mainly from Polyester and related commodities, but there is supply shortage in the Indian markets due to delay in import.

A source from the Mumbai market told the website, “No arrival of Shipment of Styrene monomer before 15th February2015 at the ports which create the shortage in supply in the major chemical markets of India.”

Market stable in last couple of weeks which makes the buyers to purchase the chemical in bulk and fear of purchasing is no more in the market.

Prevailing Booking price of the Chemical is in the trading range of $980-1,000/MT FOB Korea.

While the Chemical traded in the range of Rs 66-68 per kg.(Exclusive of Excise and VAT)

Asian market got stronger on last Wednesday when prices of the aromatics surged in the Major Asian markets, a review

Asian benzene rose to $666 per mt as on 3rd February2015, up $48 per mt day on day, amid firmer crude oil prices which boosted buying interest for benzene and toluene as well as downstream styrene monomer. Downstream Asian Styrene monomer jumped $23 per mt day on day to $920 per mt FOB Korea and $946 per mt CFR China . Upstream Asian toluene surged $28 per mt to $601 per mt FOB Korea Tuesday. Most aromatics were up on firm buying interest amid bullish upstream crude futures. March ICE Brent crude futures rebounded further from a day earlier, up $3.96 per barrel day on day to $55.66 per barrel.