Styrene Price Falls Remarkably in India on International Market Impact; Derivative Prices Follow Trend – 4 Nov 2014

Styrene prices are falling in India as consequences of import price parity and poor demand conditions. The fall in the price also has impacted the major consuming sectors, like PS and ABS, by lowering the prices. Styrene inventories with Indian traders have been mounting on account of weak demand, amid slipping prices. Import booking price for the chemical has gone down remarkably by $100 per metric tonne during the last 30 days. The current booking price for Styrene is at Rs 96 a kg, on ex-Kandla port basis and excluding all taxes.

Analyzing the prevailing conditions, demand for the chemical will remain weak during the coming days, and prices will also stay soft.

Recently, India's top PS manufacturer, Supreme Petrochemicals, has reduced its ex-work price remarkably by Rs 14 a kg to Rs 125 a kg.