Styrene Monomer price in Asian markets have declined, as India is completely dependent on imports, this trend is expected to have significant impact on the domestic markets. Currently, the price as well as demand for Styrene Monomer is stable in the New Delhi and Mumbai markets. In this light, Indianpetrochem spoke to traders in Delhi and Mumbai to comprehend the stock position for the petrochemical across the country.
In the international markets, specifically Asia, the price for Benzene has declined due to weak demand post the Lunar New Year and high inventory. This along with weak demand for Styrene Monomer has put downward price pressure for the petrochemical in Asian markets. While this is great news for buyers in Asia, most buyers in the region are refraining from building inventories at these prices as they expect the price to decline further in the short-term (Read Newsclip: PS prices likely to soften in India on falling prices in Asia).
Based on this purchasing trend, it is speculated that most Indian importers are holding off any import shipment for Styrene Monomer to the country. The websites spoke to some traders in Delhi and Mumbai and understood that there are limited stock supplies for the petrochemical in these markets.
"The offer prices for the petrochemical to India have dropped by $100- 150 per metric tonne (CFR china). However, importers aren't buying Styrene stocks from China or other South East Asian countries, as they expect the prices to fall further in the near term", a Mumbai based trader told the website.
Styrene Monomer presently sells at Rs.140 per kg (exclusive of VAT) in New Delhi market and Rs. 119 per kg (exclusive of VAT and Excise)in the Mumbai market.
Currently, the inventory in Indian market is insignificant to cause any major price fluctuations. However, in the short run, there is an expectation that the prices will decline as cheaper imports fill the domestic market.
By Zahid Mirza (mirza.zahid@indianpetrochem.com) and Ntasha Berry (ntasha.berry@indianpetro.com)
In the international markets, specifically Asia, the price for Benzene has declined due to weak demand post the Lunar New Year and high inventory. This along with weak demand for Styrene Monomer has put downward price pressure for the petrochemical in Asian markets. While this is great news for buyers in Asia, most buyers in the region are refraining from building inventories at these prices as they expect the price to decline further in the short-term (Read Newsclip: PS prices likely to soften in India on falling prices in Asia).
Based on this purchasing trend, it is speculated that most Indian importers are holding off any import shipment for Styrene Monomer to the country. The websites spoke to some traders in Delhi and Mumbai and understood that there are limited stock supplies for the petrochemical in these markets.
"The offer prices for the petrochemical to India have dropped by $100- 150 per metric tonne (CFR china). However, importers aren't buying Styrene stocks from China or other South East Asian countries, as they expect the prices to fall further in the near term", a Mumbai based trader told the website.
Styrene Monomer presently sells at Rs.140 per kg (exclusive of VAT) in New Delhi market and Rs. 119 per kg (exclusive of VAT and Excise)in the Mumbai market.
Currently, the inventory in Indian market is insignificant to cause any major price fluctuations. However, in the short run, there is an expectation that the prices will decline as cheaper imports fill the domestic market.
By Zahid Mirza (mirza.zahid@indianpetrochem.com) and Ntasha Berry (ntasha.berry@indianpetro.com)
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