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▶Weekly Report & Future Trend: PS & ABS - Week 3rd July 2019.

🔹 Crude Oil Scenario: On Friday, Brent crude closed higher by 0.30% at $ 66.72/bbl , while WTI Closed higher by 0.02% at $ 60.21/bbl. Oil prices held at a seven-week high on Thursday as storm worries in the Gulf of Mexico and heightened tensions in the Middle East.  OPEC forecast global oil demand to rise by 1.14 million barrels per day (bpd) next year, matching the projection for 2019. U.S. oil producers on Wednesday cut nearly a third of Gulf of Mexico crude output ahead of what could be one of the first major storms of the Atlantic hurricane season.

🔷 China Bazaar Scenario: Local demand is supportive in PS & ABS. The USA Producers are under pressure of finding an alternative location to retain their exports share in lieu of China. Pl. note last week ,USA pause trade war with talks 'back on track' During G 20  meeting..

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 8/7/19 ) : 9016
✅Friday Closing ( 12/7/19 ) :8966
✅Week On Week Difference : Down 0.55% 

🔷 Indian Bazaar scenario: PS & ABS
Higher styrene monomer cost & international offers for CIF NS ,has allowed local producers to offer price rise.The buying pulse is improving & sentiments are shifting to cover inventories .Considering all equations buying in GPPS , HIPS & ABS is advisable at current level.oom for price increments.Considering price governing factors ,Buying is advisable.

👉 Click Here to Download PDF Report with historical data: https://tinyurl.com/PSABSWEEK3RDJULY2019

▶ Weekly Report & Future Trend: PS & ABS : Week 2nd July 2019.

🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed higher by 1.47% at $ 64.23/bbl while WTI closed higher by 0.30% at $ 57.51/bbl. U.S. inventories fell less than expected as U.S. refineries last week consumed less crude than the week before and processed 2% less oil than a year ago. Output will stay limited as the OPEC+, agreed on Tuesday to extend oil production cuts until March 2020.

🔷 China Bazaar Scenario: The USA pause trade war with talks 'back on track' During G 20  meeting , U.S. President Donald Trump & Chinese President Xi Jinping agreed to proceed with negotiations after a series of escalations to their nations’ trade war threatened to disrupt the world economy. Both leaders agreed to hold off on new tariffs.

Buying pulse is improved with an announcement came after  much awaited G 20 meet.USA won't lift existing import tariffs, but will refrain from slapping new levies on Chinese goods. Crude started gearing up on account of improved tensions between US &  Iran .Equations are made that if dispute escalates further -supplies of Crude, Downstream  & Polymers will be largely impacted .International offers of polymers at China has witnessed upward trend & same is revealing at DCE for spot & future deals.


🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 1/7/19 ) : 8818
✅Friday Closing ( 5/7/19 ) :9016
✅Week On Week Difference : Up 2.27% 

🔷 Indian Bazaar scenario: PS & ABS
Budget'19-BCD on imports of naphtha reduced by 1 % from 5 % to 4 %,while BCD on PS & ABS left unchanged.

International offers for GPPS , HIPS & ABS for CIF NS-are assessed higher in range of $20-40/mt. Buying approach is completely changed & industry has started procurements in full fledge.

PS : This week ,producers opt for rolled over ,however influenced with global offers we may witness price rise in days to come.Buying is suggested.

ABS : This week , Ineos Styrolution rose ABS price by Rs.2.5/kg.Offers at Indian Ports are indicating further room for price increments.Considering price governing factors ,Buying is advisable.

👉 Click Here to Download PDF Report with historical data:  https://tinyurl.com/PSABSWK2NDJULY19
▶ Weekly Report & Future Trend: PS & ABS :Last Week June 2019.

🔹 Crude Oil Scenario:
Crude oil futures were down 0.61% at Rs 4,090 per barrel on June 28 after US Special Representative for Iran Brian Hook said that the US will slap sanctions on countries that import oil from Iran.West Texas Intermediate crude fall 0.32 % to $59.11 per barrel, while Brent crude, the international benchmark, was up 0.14 per cent to $66.64 per barrel.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 24/6/19 ) : 8800
✅Friday Closing ( 28/6/19 ) :8966
✅Week On Week Difference : Up 1.86% 

🔷 Indian Bazaar scenario: PS & ABS
For July end-Early August shipments -International offers for CIF Nhava Sheva assessed with an increment. For Overseas Polymer producers & Specially from US & China , India is one of the bigger bazaar to be considered to retain their export share. In order to safe guard domestic producers against expected dumping of polymers on account of ongoing trade war between USA & China. 

In order to counter huge imports & safe guard domestic producers , Indian govt. is under process of evaluating import duty structure. There are chances that Govt. may offer rise in custom duty to be levied on Polymers in next budget to be announced in the month of July 2019.Looking to current scenario ,it seems that  Indian producers may offer price rise in days ahead.At this levels polymer buying is advisable.

👉 Click Here to Download PDF Report with historical data: 
▶ Weekly Report & Future Trend: PS & ABS: Week 4th June 2019.

🔹 Crude Oil Scenario: On Friday Oil prices hit a three-week high on, Brent crude oil closed higher by 1.16% at $ 65.20/bbl while WTI closed higher by 0.63% at 57.43/bbl. WTI oil was on track for a weekly gains of nearly 10%, while Brent was up 5.3% from a week ago.Donald Trump had authorized military strikes against Iran in response to the strike against a U.S. surveillance drone late Thursday. OPEC members have postponed their scheduled review of the existing agreement on output restraint by a week to July 1.

🔷 China Bazaar Scenario: Bazaar remained under pressure in line with ongoing continuous price fall.Many plants are under shutdown or planned maintenance without leaving any impression of supply restrictions.

Buying sentiments of industry are most uncertain with the prolonged trade war between US & China ,on account of trade tariffs still unresolved.Since high import duty structure of 25 % on US polymers are not viable hence Cargoes are being redirected to other bazaars -creating pressure on S.E Asian suppliers. Non stop reversal in prices are resulted in ' wait & watch' approach from converters & they are willing to book minimum inventory levels at this point.

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 17/6/19 ) : 8883
✅Friday Closing ( 21/6/19 ) :8966
✅Week On Week Difference : Up 0.94% 

🔷 Indian Bazaar scenario: PS & ABS
Bazaar sentiments are bearish &  prices are also reflecting this sentiment, buying interest is weak in the Chinese and S.E.Asian markets and suppliers are reducing prices to try and revive buying interest.Processors are concluding deals with need base requirements only ,with an idea to keep low levels of inventories . Buyers shall adopt ' Wait & Watch' until prices settles at certain stage.

Stockiest & importers are requested to monitor price deciding factors closely as situation may take 'U turn'  at any time .

👉 Click Here to Download PDF Report with historical data: https://tinyurl.com/PSABSWK4THJUNE19
▶ Weekly Report & Future Trend: PS & ABS: Week 3rd June 2019.

🔹 Crude Oil Scenario:
On Friday, Brent Crude oil prices closed higher at 1.14% at $ 62.01/bbl while WTI closed 0.44% at 52.51/bbl. Prices were rose after attacks on two oil tankers in the Gulf of Oman this week raised concerns about potential supply disruptions. U.S. sanctions on Iran and Venezuela, an output cut pact by OPEC plus its allies, fighting in Libya and attacks on tankers in the Gulf of Oman added only limited uncertainty to supply.

🔷 China Bazaar Scenario:PS & ABS prices assessed under pressure & witnessing continuous reduction. Resistance at offered price has forced sellers to add extra discounts / attractive rate to quantity buyers. Persistent poor demand has forced suppliers to keep pulling price down.An appreciation of USD against Chinese yuan has also left major impact on demand for import cargoes. On account of prolonged trade war between China & the USA- converters are following safe practice of procurement by keeping inventories at low level.   

At DCE : This week , At DCE Styrene monomer has recovered  4.26% ( from last Monday ) which may help to settle falling PS / ABS price.

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 10/6/19 ) : 8600
✅Friday Closing ( 14/6/19 ) :8966
✅Week On Week Difference : Up 4.26% 

🔷 Indian Bazaar scenario: PS
This week ,Consistent reduction in feedstock Prices & falling international offers of PS at CIF NS , has forced Indian Producers to slash GPPS & HIPS price.
The buying sentiments are poor & converters are following “Need Base Buying “ approach.

Considering current bazaar momentum - Buyers are requested to opt cautious step before purchase .

🔷 Indian Bazaar scenario:ABS : 
 Looking to current price governing factors , buyer shall opt for ' Wait & watch ' policy before executing any major decision for procurements.You are reuested to closely monitor price governing factors.

👉 Click Here to Download PDF Report with historical data: https://tinyurl.com/PS-ABSWK3RDJUNE19
▶ Future Bazaar Trend: PS & ABS: Week 2nd June 2019.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 2.65% at $ 63.29/bbl whilr WTI closed higher by 2.66% at $ 53.99/bbl. The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 6.8 million barrels for the week ended May 31. Saudi Energy Minister Khalid al-Falih has called recent volatility “unwarranted” and has said he expects OPEC to help to stabilize prices beyond the end of the global output pact at the start of July.

🔷  In a major move , USA hits Iran with fresh sanctions in order to target petrochemicals sector

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 3/6/19 ) : 8683
✅Friday Closing ( 7/6/19 ) :8600
✅Week On Week Difference : Down 0.96% 

🔷 Indian Bazaar scenario: PS
This week ,Consistent reduction in feedstock Prices & falling international offers of PS at CIF NS , has forced Indian Producers to slash GPPS & HIPS price.
The buying sentiments are poor & converters are following “Need Base Buying “ approach.

Considering current bazaar momentum - Buyers are requested to opt cautious step before purchase .

🔷 Indian Bazaar scenario:ABS : 
Converters are not ready to carry extra inventories & waiting for more attractive offers in days ahead.

Calculating all price governing factors , Wait & watch is suggested .

👉 Click Here to Download PDF Report with historical data:
▶ Future Bazaar Trend: PS & ABS: Last Week May 2019.

🔹 Crude Oil Scenario:
On Friday Brent Crude oil closed higher by 1.37% at $ 68.69/bbl, while WTI closed higher by 1.24% at $ 58.69/bbl. Oil coursed downward with other global markets as concerns grew that the China-U.S. trade conflict was fast turning into a technology cold war between the world’s two largest economies. Iran is exporting considerably less oil as a result of the U.S. sanctions, oil shipments from Russia are still being disrupted because of quality problems, and OPEC is keeping supply tight.

🔷 China Bazaar Scenario:
Demand sentiments are firm driven by seasonal procurement which has picked up & supply issues with major producers in China and S.E.Asia on account of ongoing maintenance turnarounds/shutdowns.

In major News : An explosion and fire erupted in containers on board of a ship in Thailand's Laem Chabang sea port on 25th May 2019, injuring at least 25 till now. All deliveries & shipments  from Thailand LCB port will be rescheduled / delayed upon clearance of accident occoured. 

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 20/5/19 ) : 8283
✅Friday Closing ( 24/5/19 ) :8533
✅Week On Week Difference : Up 3.02% 

🔷 Indian Bazaar scenario: PS
Domestic Demand is very slow after recent rate reduction by local Producer . GPPS & HIPS buyers has adopted "Wait & Watch  approach with need base procurement.In anticipation of additional disc. or attractive offers -convertors are not willing to book additional procurements.Need base buying is advisable. 

🔷 Indian Bazaar scenario:ABS : 
Following same scenario of downfall witnessing continuous price cut. Subscribers are advised to keep inventory level at bottom - cautious buying is suggested.

👉 Click Here to Download PDF Report with historical data:  tinyurl.com/PSABSLASTWKMAY2019

▶ Future Bazaar Trend: PS,  Week 4th May 2019.

🔹 Crude Oil Scenario:

On Friday, Brent Crude oil closed lower by 0.56% at $ 72.21/bbl while WTI closed lower by 0.17% at $ 62.76/bbl  due to demand fears amid a standoff in Sino-U.S. trade talks, but both benchmarks ended the week higher on rising concerns over supply disruptions in Middle East shipments due to U.S.-Iran political tensions.U.S. energy firms this week reduced the number of oil rigs operating for the second week in a row.


China Bazaar Scenario: Week on Week basis:RMB./Mt.
🔷 Styrene Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 13/5/19): 8533
✅Friday Closing ( 17/5/19):8266
✅Week On Week Difference : Down 3.12%

Indian Bazaar scenario:

Indian buyers has adopted " Wait & watch " policy, with an anticipation of lucrative offers in days ahead.  Styrene monomer observed under major downfall ,which may lead PS producers to correct their prices .Keeping all factors in equation , It seems that Indian producers may reduce GPPS & HIPS price in range of Rs.2-3/kg.Looking to current scenario , Need base buying is advisable.


Click Here to Download PDF Report with historical Data : https://tinyurl.com/PSWK4THMAY2019