Delay in import shipments cause Styrene prices to hike – 5 Aug 2014

This week, the bulk price of Styrene Monomer (SM), Ex- Kandla, gained weight  from trading range of Rs. 104-105 last week to current levels of Rs. 109 per kg. Indianpetrochem spoke to some end user and traders who frequently import the chemical into the country and gathered that it has been challenging for most importers to secure supplies of SM, while the demand from most end customers remains strong .

Presently, there is limited stock position for Styrene at Indian ports as there has been delay in shipment from Saudi Arabia, Kuwait and Singapore.

Supreme Petrochem, a prominent polystyrene manufacture informed that most of the Middle East markets were closed on account of Eid ul-Fitr festivities, following which the import shipments from these places has been delayed. The polystyrene manufacturer added, "Bad weather conditions in Kuwait and delay in shipments from Singapore port due to rotation has caused severe shortage of Styrene in India following which, we aren't able to manufacture Polystyrene".

Furthermore, a Delhi based trader reported to the website that fresh shipments of Styrene should reach Indian shores by the 19-20th August, 2014, following which the price should stabilise to normal trading range.

Currently, most traders in local markets don't have any stock of Styrene and there is limited stock of Styrene with importers at Indian ports.