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 PS & ABS Weekly Report & Future Trend : Week 3rd September 2019.

🔹 Crude Oil Scenario: On Friday, Brent Crude oil closed lower by 0.26% at $ 60.22/bbl, while WTI closed lower by 0.44% at $ 54.85/bbl. OPEC and its partners will not deepen their oil production cut yet but will discuss the topic again in December. EIA forecast average demand growth this year would be 1.1 million bpd, unchanged from its earlier monthly estimate, and in 2020, it would accelerate to 1.3 million bpd.U.S. shale, production growth is imminent in Norway and Brazil as well.

🔷 China Bazaar Scenario:  The global bazaar scenario is badly effected  with  an influence of the ongoing trade war between the US and China.The recent enforcement  of tariffs imposed by both countries has resulted in falling commodity prices 

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 9/9/19 ) : 9350
✅Friday Closing ( 13/9/19 )  :8983
✅Week On Week Difference : Down 3.92%

🔷 Indian Bazaar scenario: PS & ABS
This week -Indian Producer has raised their offers for GPPS & HIPS by Rs,2/kg & still further hike is also expected in days ahead.Indian Rupee has depreciated marginally against USD ,resulting import's landing cost higher.In addition to latest international offers,increased custom exchange rate has allowed domestic producers to announce price rise.
Looking to current scenario , upcoming festive season & other price governing factors -Polymer buying is advisable.


 PS & ABS Weekly Report : 4th Week August 2019.


🔹 Crude Oil Scenario: On Friday, Brent Crude Oil closed lower by 0.97% at $ 59.34/bbl, while WTI closed lower by 2.13% at 54.17/bbl. Yesterday  China proposed clamping a 5% tariff on $75 billion in U.S. goods including oil for the first time in response to President Donald Trump's plan to impose 10% tariffs on Chinese-made consumer goods on Sept. 1 and Dec. 15.

🔷 China Bazaar Scenario: On Friday, Chinese Government  proposed clamping a 5% tariff on $75 billion in U.S. goods including oil for the first time in response to President Donald Trump's plan to impose 10% tariffs on Chinese-made consumer goods on Sept. 1 and Dec. 15. The devaluation of the yuan is the main factor behind the dull demand.

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 19/8/19 ) : 8416
✅Friday Closing ( 23/8/19 ) :8500
✅Week On Week Difference : Up 0.99%




 PS & ABS Weekly Report : 3rd Week August 2019.

🔹 Crude Oil Scenario: On Friday, Brent Crude oil closed higher by 0.70% at $ 58.64/bbl, WTI closed higher by 0.73% at $ 54.87/bbl. Front-month WTI futures scored a 0.7% weekly rise, while Brent edged up by 0.2% from the week-ago finish. A Saudi official indicated this month that more steps may be coming, saying Saudi Arabia was committed to do “whatever it takes” to keep the market balanced next year.

🔷 China Bazaar Scenario:China has continued import of Crude oil from Iran in July'19. After a completion of extension of second month of U.S. sanctions waiver ended,China still continued import crude from Iran in July'19. Senior Trump administration officials estimate that 50-70% of Iran’s oil exports are flowing to China, while roughly 30% go to Syria. China is typically Iran’s largest oil customer and contests Washington’s sanctions.Last Week- Typhoon “Lekima” landed on the coast of Qingdao, Shandong on 11st August 2019.The typhoon brought strong winds & heavy rainfall, which caused serious damage to infrastructure, public buildings & grain fields.

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 12/8/19 ) : 8300
✅Friday Closing ( 16/8/19 ) :8416
✅Week On Week Difference : Up 1.41%

🔷 Indian Bazaar scenario: PS & ABS
This week, Indian company reduced rate of ABS by Rs.1.5/kg,while PS prices are unchanged .International offers for CIF NS- for GPPS ( $ 1180-1190/mt) & HIPS ($ 1250-1260/mt)assessed stable while offers for ABS were noted downward by approx $ 25-30/mt at ( $1430-1440). The buying sentiments is lack luster & buyers are not willing to carry any extra inventory at current level. Looking to current scenario & upcoming festive season-polymer buying is advisable.


▶ PS & ABS Weekly Report : 2nd Week August 2019. 


🔹 Crude Oil Scenario: On Friday,Brent crude closed higher by 2% at $ 58.53/bbl, while WTI closed higher 3.73% at $ 54.50/bbl. Both crude benchmarks plummeted by more than 7% last Thursday to their lowest level in about seven weeks after Trump’s announcement. China let the yuan tumble beyond the 7-per-dollar level for the first time in more than a decade. Iran will no longer tolerate “maritime offences” in the Strait of Hormuz, its foreign minister said on Monday.

🔷 China Bazaar Scenario:The US-China trade war continues to accelerate. America has put 25% tariffs on $250 billion worth of Chinese imports, and is slated to add an additional 10% tariff on the remaining $300 billion. China currently collects tariffs between 5% and 50% on about $113 billion of US imports.

Some worry about the long-term negative effects the trade war could have on the global economy, but in the short term, the bi-lateral tariff fight has brought benefits to many other countries.

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 5/8/19 ) : 8500
✅Friday Closing ( 9/8/19 ) :8300
✅Week On Week Difference : Down 2.35%

🔷 Indian Bazaar scenario: PS & ABS
Open Bazaar demand is improving with an anticipation of price rise in days ahead. Latest offers of GPPS , HIPS & ABS for CIF NS- is assessed mostly static with minor correction for Sept.2019 deliveries.

Limited availability of Imported cargoes ,increased USD-INR exchange rate & upcoming festive season,has created a room for price escalation .At this point , we advised buyers to proceed for procurement.


▶ PS & ABS Weekly Report : 1st Week August 2019.


🔹 Crude Oil Scenario: On Friday, Brent crude closed higher by 2.30% at $ 61.89/bbl, while WTI closed higher by 3.17% at 55.66/bbl. A plunge that saw the U.S. benchmark suffer its biggest one-day fall in more than four years after President Donald Trump moved to impose additional import tariffs on Chinese goods will effecting from 1st September 2019.U.S.-China trade war developments have roiled markets for more than a year, and there have been signs the rafts of additional tariffs from both sides are having real effects on economies around the world.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 29/7/19 ) : 8650
✅Friday Closing ( 2/8/19 ) :8583
✅Week On Week Difference : Down 0.77%

🔷 Indian Bazaar scenario: PS & ABS
Wef 1st Aug.19, Indian Producers slashed GPPS & HIPS price by Rs.1.5/kg .The International offers for PS & ABS are witnessing downward at global bazaar. Latest offers for Aug.19, deliveries for CIF NS,Mumbai- GPPS & HIPS is being offered in range of USD 1210-1220/MT & USD 1270-1280/MT respectively.While offers for ABS are in range of USD 1480-1490/MT.

Processors are waiting for more attractive offer & keeping their inventories at low levels. At current levels we advise to adopt  wait & Watch approach before stepping in to extra buying.

▶ PS & ABS Weekly Report : Last Week July 2019.

🔹 Crude Oil Scenario: On Friday, Brent Crude oil closed higher by 0.11% at $ 63.46/bbl (fell 6% last week) while WTI closed higher by 0.32% at $ 56.20/bbl( fell 7.5% last week). Tensions remained high around the Strait of Hormuz, the world's single most important oil passageway, as Iran refused to release a British-flagged tanker it seized last week in the Gulf.The slowdown in global manufacturing and trade, and the associated hit to oil consumption.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 22/7/19 ) : 8650
✅Friday Closing ( 26/7/19 ) :8650
✅Week On Week Difference : Stable

🔷 Indian Bazaar scenario: PS & ABS
Bazaar buying sentiments are mute in anticipation of further price decrements on 1st August 2019. Processors are willing to keep their inventories at most low level & exercising 'Need base' procurement.
At this stage, we will advise buyers to monitor all price governing factors closely &  react with next action before stepping in to extra buying.For now , need base buying is advisable.
👉 Click Here to Download PDF Report with historical data: https://tinyurl.com/PSABSLASTWEEKJULY2019

▶ Weekly Report & Future Trend: PS & ABS : Week 4th July 2019.

🔹 Crude Oil Scenario: On Friday, Brent Crude closed higher by 0.87% at $ 62.47/bbl, while WTI closed higher by 0.60% at $ 55.63/bbl.The International Energy Agency (IEA) does not expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, the IEA's Fatih Birol said on Friday in public comments. In the latest sign of increasing tensions in the Middle East, a senior Trump administration official said on Friday the United States will destroy any Iranian drones that fly too close to its ships.

🔷 China Bazaar Scenario: Trump: U.S. had 'very good talk' with China; in-person talks may follow.
This week , U.S. President Donald Trump said on that U.S. Treasury Secretary Steve Mnuchin had a very good talk with his Chinese counterpart, amid signals from China that officials could soon meet face-to-face in their bid to end a yearlong trade war.Officials from the world’s two largest economies spoke by phone on Thursday & Treasury Secretary Steven Mnuchin said in-person talks could follow.
“Secretary Mnuchin did have a call with the Chinese counterpart. They had a very good talk,” Trump told reporters at the White House, suggesting that China’s worst economic output data in nearly three decades could propel trade talks forward.

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 15/7/19 ) : 8966
✅Friday Closing ( 19/7/19 ) :8666
✅Week On Week Difference : Down 3.35% 

🔷 Indian Bazaar scenario: PS & ABS
International offers for ABS & PS are assessed stable with firm tone. This week ,Indian company reduced price of ABS .

GPPS & HIPS : Convertors are  following Need base buying with an intention to keep inventory levels at low. Looking to current scenario ,Buying is suggested .
👉 Click Here to Download PDF Report with historical data:

▶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