Imported Styrene Monomer in Kandla

Styrene Monomer prices in India dropped by ₹1/kg, reflecting lower Asian contract prices and weaker crude and naphtha values. Reduced holiday demand and moderate supply contribute to a bearish market. Key international market shifts and potential crude oil recovery could alter pricing trends, with experts suggesting an inventory buildup ahead of the anticipated demand rebound post-November.

In the international market, Styrene Monomer prices have risen, supported by a recovery in upstream crude oil prices, which had recently reached a three-year low. In the domestic market, importers also increased Styrene Monomer prices by ₹1/kg, bringing them to ₹97++ per kg ex-Kandla on 60-day credit terms.

Trader offers were quoted at ₹94++ per kg Ex-Kandla and Ex-Hazira for immediate lifting on an advance payment basis. In the first half of August, styrene prices were bullish, but from the first week of September 2024, domestic prices began correcting due to a sharp decline in upstream crude oil and feedstock benzene prices.

Importers have raised Styrene Monomer prices by ₹1/kg, bringing them to ₹97.50++ per kg on an ex-Kandla basis and ₹99.50++ per kg on an ex-Mumbai basis, with 60-day credit terms. Traders are offering higher prices, quoted at ₹100++ per kg ex-Kandla and ₹103++ per kg ex-Mumbai, also on 60-day credit terms. This price increase is attributed to limited inventories at the ports and a rebound in feedstock Benzene and Ethylene prices.

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