Yet again this month the bulk price of Styrene has risen to level of Rs. 109-111 per kg from levels of Rs. 106 per kg, Ex- Kandla, on account of short supply of imports. Most importers have limited stock of the chemical while major end users, such as Polystyrene (PS) manufacturers have received their import shipments.
Previously, due to delays in import shipment, end users such as Supreme Petrochem weren't able to secure the raw material in time which led to short supply of domestically manufactured PS. However, now, the PS manufacture has received its shipment of Styrene, while most importers in the market have limited stock supplies at the port.
A prominent importer informed, " There has been delay in shipments from countries such as Singapore and Kuwait, and no importer has received any shipment within the past two week. Also, most traders are booking Styrene Monomer shipments at $1,580-1,590 per metric tonne".
This supply shortage amidst strong demand from all end user segment has led the price of Styrene Monomer to increase in the market, the website gathers from various sources.
Internationally, the benchmark prices of Styrene Monomer have been on a downward trend since the beginning of this month, whereby the prices have moved from $1,607.5 per metric tonne FOB Korea to current levels of $1,554 per metric tonne FOB Korea.
As such, there are strong indicators that current bulk prices are being driven on short supply only and once fresh imports shipments hit Indian shores the prices would most likely decline.
(This article was published on the website on August 22, 2014)
Previously, due to delays in import shipment, end users such as Supreme Petrochem weren't able to secure the raw material in time which led to short supply of domestically manufactured PS. However, now, the PS manufacture has received its shipment of Styrene, while most importers in the market have limited stock supplies at the port.
A prominent importer informed, " There has been delay in shipments from countries such as Singapore and Kuwait, and no importer has received any shipment within the past two week. Also, most traders are booking Styrene Monomer shipments at $1,580-1,590 per metric tonne".
This supply shortage amidst strong demand from all end user segment has led the price of Styrene Monomer to increase in the market, the website gathers from various sources.
Internationally, the benchmark prices of Styrene Monomer have been on a downward trend since the beginning of this month, whereby the prices have moved from $1,607.5 per metric tonne FOB Korea to current levels of $1,554 per metric tonne FOB Korea.
As such, there are strong indicators that current bulk prices are being driven on short supply only and once fresh imports shipments hit Indian shores the prices would most likely decline.
(This article was published on the website on August 22, 2014)
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