[email protected], +91 93745 24 365

The Single Platform For Polymer's News & Business..

PS & ABS Weekly Report & Future Trend : 1st Week July 2020
Crude Oil Scenario: 
On Friday, Brent crude oil closed lower by 0.07% at 41.02/bbl while WTI closed lower 0.59% at $ 38.49/bbl. The contracts are on track for weekly falls of around 3.1 per cent and 3.6 per cent, respectively, after record US crude inventory data dragged prices down on Wednesday. 

There are fears that a spike in COVID-19 infections in southern US states could stall the demand recovery, especially as some of those states, such as Florida and Texas, are among the biggest gasoline consumers.

Feedstock : Styrene prices closed stable at $680/mt CFR China basis compared to last week.

China Bazaar Scenario:
Styrene Monomer Spot Bazaar offers( RMB/MT)
Monday Opening ( 22/06/20 ) : 5483
Friday Closing ( 24/06/20 )  : 5450
Week On Week Difference :  -33

Indian Bazaar 
Recent incline in SM price brought marginal rise in all Styrenics Products.The strong regional demand coupled with higher energy segments pulled global PS & ABS prices upward.Influenced with Int'l. trend , Ineos styrolution increased ABS 920 price by Rs.7/kg again wef   23rd June'20.Latest notations for GPPS & HIPS for CIF NS, assessed higher at US$ 1020-1030 /Mt & US$ 1080-1090 /mt respectively for July'20 deliveries.

Offers for ABS grade is accounted at US$   1330-1340/Mt for same location. After virus imposed nationwide lockdown , Industry is in process of gearing up productivity & return back to track.We may see high end demand in GPPS, HIPS & ABS variants during July'20. Above reading guides towards possible increments on 1st July '20, we advised to step in to buying at current levels.
▶️ PS & ABS Weekly Report & Future Trend : 4th Week June 2020.
🔹 Crude Oil Scenario: On Friday Brent crude oil closed higher by 1.64% at $ 42.19/bbl while WTI closed higher by 2.31% at  $ 39.75/bbl.Iraq and Kazakhstan, during a meeting of an Opec+ panel on Thursday, pledged to comply better with oil cuts, sources said. This means curbs by the Organization of Petroleum Exporting Countries and allies, known as Opec+, could deepen in July.

Fuel demand in Europe is staging a gradual recovery after the height of the lockdowns in April but remains well below normal, data from several countries shows.Opec+ supply cuts of 9.7 million barrels per day (bpd), or 10 per cent of world demand, and an easing of government lockdowns imposed to control the coronavirus.

✅ Feedstock : Styrene prices closed higher by $60 at $680/mt CFR China basis compare to last week.
🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 15/06/20 ) : 5383
✅ Friday Closing ( 19/06/20 )  : 5483
✅ Week On Week Difference :  Up 1.86%

🔹 Indian Bazaar :

Rising Styrene Monomer values along with strong regional demand supported PS & ABS producers to remain their firm stand  for next offers. Latest International offers for GPPS & HIPS are assessed higher at US$ 1010-1020/Mt & US$ 1070-1080/Mt respectively.while notations for ABS variant assessed at US$1270-1280/Mt.This week , Ineous styrolution increased rate of ABS by Rs.5/kg wef 17th June'20.

Govt. of India is considering imposing anti dumping duties on imports of PS from US, Malaysia, Iran, Taiwan, Singapore & UAE.On 12 th June'20,India's Trade Directorate  recommended that A.D.D.s in a US$35-474/Mt range to be imposed on of all variants of PS, except EPS from above mentioned 6 countries.

At domestic front,demand seems to be turning little slow on account of many issues of liquidity crunch , logistic restrictions & limited availability of manpower.Global demand tone is encouraging as most of producers have resumed their mfg. & business activities. Looking to current scenario & other price governing factors , Polymer buying is advised with company price.
  ▶️ PS & ABS Weekly Report & Future Trend : 3rd Week June 2020

🔹 Crude Oil Scenario: On Friday Brent crude oil closed higher by 0.47% at $ 38.73/bbl while WTI closed lower by 0.22% at $ 36.26/bbl. US crude inventories rose unexpectedly by 5.7 million barrels in the week to June 5 to 538.1 million barrels - a record - as imports were boosted by the arrival of supplies bought by refiners when Saudi Arabia flooded the market in March and April, Energy Information Administration  data showed.

✅ Feedstock : Styrene prices closed lower by $20 at $660/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 08/06/20 ) : 5600
✅ Friday Closing ( 12/06/20 )  : 5550
✅ Week On Week Difference :  Down 0.89%

🔹 Indian Bazaar :
The decline in the Styrene reference pulled PS notations downward globally. Due to the downfall at Int'l.prices for GPPS grades,Indian Producer announced price reduction wef 9 th June'20.However HIPS prices kept unchanged.The latest offers for GPPS & HIPS variants were almost stable when compared with last week,while ABS notations assessed higher in range of US$ 20-30/Mt.Ineos Styrolutions increased ABS prices marginally by Rs.7/kg wef 9th June'20.

On the grounds of their eaten up margins, producers tried to retain part of the cost reduction, with limited success.In the second half of the month, the processors’ purchasing behaviour was of more cautiousness.Unfortunately,the conversion industry is struggling with liquidity issues on a/c of uncertainty of payment recovery for deals concluded prior to lock down ,while raw material & other suppliers are asking to have fresh transactions on cash/ advance payment basis only.In addition to this,processing units aren't able to run their factories up-to 60-70% or even lesser due to mass migration of labor.

After referring above parameters ,we are of the opinion to step in to buying process at current levels  
▶ PS & ABS Weekly Report & Future Trend : 2nd Week June 2020.

🔹 Crude Oil Scenario: This Friday ,the imminent extension, coupled with a surprisingly good U.S. jobs report, sent Crude Oil 5% higher to $42/bbl.

🔷 Brent :  Bazaar have broken above the $40/bbl during the week, which is a very bullish sign. The $40 level had been a real thorn in the side for buyers. This is especially true considering that the Brent bazaar is especially sensitive to many of the OPEC countries, which look set to cut back production even further.

🔷WTI ( West Texas Intermediate ) : Bazaar rallied significantly  by approaching towards the $40/bbl. It should be noted that the $41 level is the top of the gap that is visible from now.   

✅ Feedstock : Styrene prices closed higher by $20 at $680/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 01/06/20 ) : 5500
✅ Friday Closing ( 05/06/20 )  : 5583

✅ Week On Week Difference :  Up 1.52%


🔹 Indian Bazaar :  For CIF NS,The latest offers of GPPS & HIPS are assessed at US $ 1010-1020 /Mt & US $ 1070-1080 /Mt respectively for June End shipments,while ABS variants US $ 1230-1240 /Mt.Open bazaar reported availability issue in PS variants amid gas leak incident took place at LG's Vizag plant.

Followed by GOI announcement of Unlock 1 -most of the processing units have become functional.Since units weren't having inventories or low stock due to sudden lockdown,converters are rushing to local producers to replenish their inventories.Interstate logistic movements are also highly affected & will take some days to settle,which is again a big concern for industry.Industry is facing major shortage of skilled / unskilled manpower due to their mass migration to their villages/native.Still plants aren't able to reach their routine production capacities resulting in production cut & affecting in limited consumption.

Based on the current scenario & changing price deciding equations , Polymer buying is advised at current level.
▶ PS & ABS Weekly Report & Future Trend : 1st Week June 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed higher by 0.11% at $ 35.33/bbl while WTI closed higher by 5.28% at 35.49/bbl. Despite production cuts from OPEC+ and North America and slowly improving demand, oil prices are not expected to average much higher than current prices in 2020 because of renewed U.S.-China tensions. The price gains from improving fundamentals could be capped by flare-ups in the U.S.-China relations, which could damage the post-coronavirus economic recovery and trade. Analysts expect the cuts from major producers in and outside the OPEC+ pact and the recovering demand to support oil in the coming months. However, renewed U.S.-China tensions over China’s new security laws for Hong Kong have been weighing on equity and oil markets in recent days.

✅ Feedstock : Styrene prices closed higher by $10 at $660/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 25/05/20 ) : 5466
✅ Friday Closing ( 29/05/20 )  : 5416

✅ Week On Week Difference :  Down 0.91%


🔹 Indian Bazaar :  This week,Latest overseas offers for GPPS & HIPS were assessed at US$ 1010-20/Mt & US$ 1070-1080/Mt respectively. However, ABS grades were offered in the range of US$ 1190-1200/Mt for CIF NS. Relaxations are offered to industry & removal of strict lockdown norms has allowed convertors to back to floor. With many hurdles of liquidity crunch , manpower availability & other unexpected problems, convertors are struggling to meet their routine production capacities.
At other end.higher SM prices & bullish demand at overseas bazaars-delta is further widening between domestic & global prices.Processors are willing to cover stock at current levels at appropriate offers. From this levels , Polymer prices are set to march further in days ahead.Considering current scenario with other price controlling elements ,we are oft  the opinion to step in to procurement. Indian companies may revise price upward on 1st June'20 by 2-3/kg.
▶ PS & ABS Weekly Report & Future Trend : 4th Week May 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 2.58% at $ 35.13/bbl, while WTI closed lower by 1.98% at 33.25/bbl.  Crude oil prices gained this week with the easing of quarantine measures and a surprise decline in US crude inventories, but lost most of the gains on Friday with rising tensions between the world's two largest economies and oil consumers China and the US. 

US President Donald Trump accused China late Thursday of alleged misinformation against his country and Europe. The world's two largest economies are at the forefront of the global economic slowdown and weakening oil consumption around the world.

✅ Feedstock : Styrene prices closed higher by $15 at $675/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 18/05/20 ) : 5266
✅ Friday Closing ( 22/05/20 )  : 5500

✅ Week On Week Difference :  Up 4.43%


🔹 Indian Bazaar :  
On CIF NS basis, Latest overs seas offers for GPPS & HIPS were assessed at US$ 1020-1030/MT & US$ 1070-1080/mt respectively, while ABS quotes were observed in range of US$ 1160-1170/Mt. 

At Local bazaar, under major threat to life & livelihood - corona virus remain impacting industry , business & routine activities most adversely.From such controlled stage of nation wide lock-down ,industry has started moving further on easing restrictions by state & central govt.Most of processors has resumed their work & gradually increasing their productivity. Demand in raw material is set to grow further amid easing restrictions on mfg.industries.

Considering the changing scenario with support of other price deciding factors,Polymer prices are set to rise from current levels.As per our view buying is suggested.

▶ PS & ABS Weekly Report & Future Trend : 3rd Week May 2020.
🔹 Crude Oil Scenario:
On Friday Brent Crude Oil closed higher by 4.40% at $ 32.50/bbl while WTI closed higher 6.79% at 29.43/bbl, with the U.S. benchmark posting a weekly gain of 19%, finding support from production cuts by major oil producers and early signs of a recovery in demand for crude with some business lockdowns globally being lifted. Declines in U.S. production have also helped to support prices for oil. In a monthly oil report released Thursday, the IEA said the U.S. would be the key driver of a “spectacular” 12 MnBpD fall in global oil supply in May to 88 MnBpD, to hit a nine-year low.OPEC+ cuts “extend only through June, but the group could agree an extension when they meet on June 10.

✅ Feedstock : Styrene prices closed higher by $15 at $650/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 11/05/20 ) : 5300
✅ Friday Closing ( 15/05/20 )  : 5266

✅ Week On Week Difference :  Down 0.63%


🔹 Indian Bazaar :  On CIF NS basis, Latest overs seas offers for GPPS & HIPS were assessed at US$ 1010-1020/MT & US$  1060-1070 /mt respectively, while ABS quotes were observed in range of US$ 1150-1160/Mt. Recent past accident of gas leak at LG Polymer's Vizag plant has resulted in loss of few factory workers.The incident invited immediate attention of state govt. & on order of CM Mr,Reddy -LG Polymers started shifting of 13 KT of Styrene monomer to S.Korea.This may affect availability of GPPS & HIPS in near future.
Demand in ABS variants are still not accounted to be of routine course due to ongoing lock down. Industrial movements are gradually coming on track with a hope to be normal very soon.For now,Industry is passing through major uncertainties on account of Liquidity crunch & man power availability issue.After issuance of relaxations from prevailing lockdown,many mfg.units will become functional. As most of the laborers are migrated to their native or under process of same-industry will be forced to remain operational with limited skilled labor. Under such event plant productivity will be reduced marginally subsequently reducing polymer consumption.

Considering changing global scenario & other price supporting factors , Buying is suggested.
▶ PS & ABS Weekly Report & Future Trend : 2nd Week May 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 5.13% at 30.97/bbl while WTI closed higher by 5.05% at 24.74/bbl, with optimism over production cuts and rising demand for gasoline lifting to U.S. benchmark prices up by 25% this week. The EIA Wednesday reported a weekly decline in U.S. gasoline stocks. Motor gasoline demand saw implied demand drop 39.6% over a four-week period, but that’s an improvement from the previous report which showed four-week implied demand down by 43.7%.The number of oil and gas rigs operating in the United States is expected to hit an all-time low this week - reflecting data going back 80 years.

✅ Feedstock : Styrene prices closed higher by $10 at $635/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 04/05/20 ) : 5100
✅ Friday Closing ( 05/05/20 )  : 5383

✅ Week On Week Difference :  Up 5.56%


🔹 Indian Bazaar : This week ,Indian PS mfgr. Supreme Ind. revised GPPS & HIPS price to Rs.84 & Rs.91 ( + GST , Ex. Nagothane ) respectively.On CIF NS basis ,latest Int'l. offers of GPPS assessed at US $ 1000-1010/MT & HIPS at US$ 1050-1060 /Mt, while quotes for ABS grades were quoted at US $ 1130-1140/Mt.

Conversion industry is highly upset with multi challenges to be faced in days ahead.To address financial difficulties faced by industries, MSMEs during COVID-19 lockdown most of state government has announced an economic relief package.
Lockdown will remain in force till 17 th May'20 & if reqd. GOI may re extend  based on the emerging situation & figures.  After reviewing current scenario & other price governing factors , Need base buying is advised.
▶ PS & ABS Weekly Report & Future Trend : 1st Week May 2020.
🔹 Crude Oil Scenario:
On Friday Brent Crude oil closed lower by 0.15% at $ 26.44/bbl while WTI closed higher by 4.99% at $19.78/bbl. U.S. oil prices were 5% higher while Brent crude rose above $26 per barrel on Friday, with both benchmarks posting their first weekly gain in four weeks as OPEC and its allies embark on record output cuts to tackle a supply glut due to the coronavirus crisis.
OPEC+, have agreed to cut output by 9.7 million barrels per day from 1st May. Several countries and regions, including China’s central province of Hubei, where the novel coronavirus behind the pandemic was first detected, are relaxing lockdowns put in place to contain the virus.

✅ Feedstock : Styrene prices closed higher by $40 at $620/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 27/04/20 ) : 5000
✅ Friday Closing ( 01/05/20 )  : 5100

✅ Week On Week Difference :  Up 2.00%


🔹 Indian Bazaar :  On CIF NS basis, Industry witnessed latest offers of GPPS & HIPS at US$ 1000-1010/Mt & US$ 1050-1060 /Mt respectively, while quotes for ABS grades were assessed at US $ 1130-1140/Mt. Due to nationwide lockdown, industries falling under the head of mfg. of essential goods & services are operational.

On a/c of coronavirus outbreak, Indian Govt. has extended nationwide lockdown from 3rd May to 17th May'20.At other hand, industry is passing through tough time due to emerging scarcity of manpower. Most of labours have started returning to their native / home town, Which is resulting in a shortfall in production, hence reducing polymer consumption. It has become very difficult to predict & define next course of action under such a highly volatile energy sectors.Most of the commodities are selling under pressure & touched their multi year low levels.Polymer importers must monitor price controlling elements closely & conclude next step.

Based on changing equations & other price controlling factors , industry shall practice 'Need base buying ' Policy.
▶ PS & ABS Weekly Report & Future Trend : Last Week April 2020.
🔹 Crude Oil Scenario:
On Friday Oil futures finished higher for a third straight session, but U.S. prices posted a record weekly loss of more than 32%, as commodity investors attempted to take stock of a historic collapse in prices that cast a spotlight on problems of oversupply and dwindling storage in the energy complex.Gains on Friday marked a third straight advance for the international and U.S. grade oils the longest such streak of gains since a similar stretch ended March 25. Kuwait on Thursday, for example, said it would consider trimming its production early,It is unclear what effect declines in output will have in balancing the massive oversupply of crude and the lack of storage facilities which has pressured the energy industry.

✅ Feedstock : Styrene prices closed lower by $75 at $550/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 20/04/20 ) : 5150
✅ Friday Closing ( 24/04/20 )  : 5000

✅ Week On Week Difference : Down 2.91%


🔹 Indian Bazaar : At domestic front, industrial momentum is at standstill on a/c of nationwide lockdown. Latest offers of GPPS & HIPS for CIF NS , assessed at US$ 1015-20 /Mt & US$ 1065-1070 /Mt respectively, while quotation for ABS grades are accounted at US$ 1150-1160 /mt. 

Industry is passing through a tough time, on a/c of the heavily spread of COVID 19. Until now, converters ( except engaged in mfg. of essential goods & related products )weren't able to operate their functions due to nationwide call of Lockdown, which will be in force till 3rd May'20. If lockdown is being withdrawn or relations are offered on the scheduled date, industry is afraid that labours may return to their native/ home town-which will create a major shortage of manpower. Out of total Indian Plastic industries, more than 60-65 % of units are falling under MSME / SME & are functional with the support of skilled labour. In the absence of experienced manpower, many industries will be forced to remain shut ( Fully / Partially )

In respect with current scenario emerging with many uncertainties, we advise to opt for ' Wait & Watch ' with need base buying policy
▶ PS & ABS Weekly Report & Future Trend : 4th Week April 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude Oil closed higher by 0.83% at $ 28.08/bbl while WTI closed lower by 8.05% at $ 18.27/bbl. U.S. crude prices slid to a new 18-year low Friday, recording another big weekly drop with the coronavirus pandemic erasing demand for fuel and pressuring energy producers.China reported that its economy suffered a historic slump in the first quarter, OPEC predicted demand for its oil will fall to a three-decade low and U.S. and Europe inventories swelled. Meanwhile, prices in the physical oil market have disconnected from futures, with landlocked crudes such as Bakken and Western Canadian Select worth about $11 to $12 a barrel.

Feedstock : Styrene prices closed higher by $50 at $630/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 13/04/20 ) : 5400
✅ Friday Closing ( 17/04/20 )  : 5150

✅ Week On Week Difference : Down 4.63%


🔹 Indian Bazaar : This week , Latest overseas offers for GPPS & HIPS were assessed at US$ 1030-1040/Mt & US$ 1060-1070/Mt respectively. However ABS grades were offered in range of US$ 1150-1160/Mt for  CIF NS.Buying pulse is much poor due to ongoing shutdown across India. Recent lockdown has been extended till 3 rd May '20  &  govt. will announce further guidelines & next course of action-based on data of April last week.

This week , USD became more stronger against INR & exchange rate crossed mark of Rs.76-77.Wef 17 th April '20- Indian Govt. also raised their US$-INR exchange rate by Re.1.30/US$ at 77.65 for valuation of goods under import.

Recent phase invites more attention on price governing factors & step in to cautious buying.
▶ PS & ABS Weekly Report & Future Trend : 3rd Week April 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 13.93% at $ 34.11/bbl while WTI On Friday, Brent crude oil closed lower by 4.14% at $ 31.48/bbl while WTI closed lower by 9.29% at $ 22.76/bbl. Global oil producers and refiners are struggling with a series of unprecedented dislocations as the simultaneous epidemic and volume war between Saudi Arabia and Russia rip through every element of the supply chain.U.S. fuel demand has dropped by about one-third in the last three weeks, according to the U.S. Energy Information Administration, with last week's fall of 3.4 million barrels per day (bpd) the most ever. The declines have been particularly sharp in gasoline demand, which has been cut nearly in half in the last three weeks alone.

Feedstock : Styrene prices closed higher by $70 at $590/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 06/04/20 ) : 4700
✅ Friday Closing ( 10/04/20 )  : 5183

✅ Week On Week Difference : Up 4.62%


🔹 Indian Bazaar : Latest International offers for GPPS & HIPS assessed lower at 900 US$/Mt & 1010 US$/Mt respectively, While ABS offered observed at US$ 1190-1200/Mt for CIF Nhava Sheva. Whole country is stagnant under call of nation wide lockdown ,most of industries aren't functional. However Industries registered under head of ' Essential goods & products ' are functional with reqd. permission of local authorities /civic bodies. 

At Forex Industry  : Indian rupee depreciated marginally against US$  & also crossed barrier of Rs.77 mark during intraday trade. USD-INR exchange rate plays vital role in deciding landing price of imported goods & subsequently in accordance to same Indian producers revise their price for domestic bazaar. Strong US$ has helped local polymer producers to hold price at certain levels.

Considering current critical time of industry , we advise to monitor all price governing factors closely & for now one shall opt ' Wait & Watch' until situation turns back to normal.
▶ PS & ABS Weekly Report & Future Trend : 2nd Week April 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 13.93% at $ 34.11/bbl while WTI closed higher by 11.93% at $ 28.34/bbl. Crude prices saw record weekly increases ahead of a highly anticipated meeting Monday of members of the Organization of Petroleum Exporting Countries, their allies and any other interested parties. Trump tweeted on Thursday that he had brokered a deal for Saudi Arabia, Russia and other oil producers to cut between 10 million and 15 million barrels of supply from daily world output.

✅ Feedstock : Styrene prices closed lower by $20 at $535/mt CFR China basis compare to last week.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 30/03/20 ) : 4716
✅ Friday Closing ( 03/04/20 )  : 4700

✅ Week On Week Difference : Down 0.35%


🔹 Indian Bazaar : In order to stop spread of corona virus , Indian govt. has announced nationwide lockdown for 3 weeks. Such precautionary action has kept all mfg.industries to undergo unplanned shutdown. All bazaars are closed & waiting to get operational from 14th April 2020, If  situation permits.

This Week, offers for GPPS , HIPS & ABS variants recorded with visible price correction.After reviewing global scenario & other price deciding factors, 'Need base buying' is suggested once buyers are back to desk.
▶ PS & ABS Weekly Report & Future Trend : 1st Week April 2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 5.35% at $ 24.93/bbl while WTI closed lower by 4.82% at $ 21.51/bbl, Oil prices plunged 5% on Friday and posted a fifth straight weekly loss as demand destruction caused by the coronavirus outweighed stimulus efforts by policymakers around the world.With 3 billion people in lockdown, global oil demand could be cut by a fifth, International Energy Agency head Fatih Birol said as he called on major producers such as Saudi Arabia to help to stabilise oil bazaar.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 23/03/20 ) : 5033
✅ Friday Closing ( 27/03/20 )  : 4716

✅ Week On Week Difference : Down 6.29%


🔹 Indian Bazaar :
On account of Corona Virus outbreak & recent nation wide lockdown all Bazaars are closed.Hence latest price for Indian Open bazaars will be made available once Industry is back to desk & fully functional.Most of the Indian Polymer Producers has already announced fully or partial closure of their operations under head of Force Majeure ( FM ). 

Companies has been also approached with request to consider disability of Processors to fulfil their MOU commitments during such critical phase. Hence relaxations or an extension is likely to be announced by Polymer Producers in days ahead
▶ PS & ABS Weekly Report & Future Trend : 4th Week March 2020.

🔹 Crude Oil Scenario:
On Friday, Brent Crude closed lower by 1.49% at 26.98/bbl while WTI closed lower by 2.79% at 22.43/bbl. U.S. crude prices notched a weekly loss of 29%, the steepest since the outset of the U.S./Iraq Gulf War in 1991. Brent crude dropped by 20%. Both benchmarks have dropped for four straight weeks.U.S. officials scrambled to respond on Friday, saying they would send a U.S. Energy Department official to Saudi Arabia for several months to work on stabilizing energy markets. Also, a Texas state regulator spoke with OPEC Secretary General Mohammad Barkindo about the possibility of a global production cut.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 16/03/20 ) : 6166
✅ Friday Closing ( 20/03/20 )  : 5633

✅ Week On Week Difference : Down 8.65%


🔹 Indian Bazaar :
This week , international offers for CIF NS, Mumbai for GPPS & HIPS assessed at US$ 1090-1100/Mt & US$1150-1160/Mt respectively,While offers for ABS recorded at US$1290-1300/Mt.Demand tone is mute with an approach of need base procurements only.In a historical context , USD appreciated marginally against INR & closed above mark of 75,however crude & gas price reduced above 25%.Goldman Sachs slashed its price forecast for second-quarter Brent crude oil by a third to $20/bbl.

Whole economy & industry is passing through major uncertainty due to widely spread corona virus out break ,which has created havoc across globe.As a precautionary measure ,Indian govt. has announced advisory & urge all citizens to take extra care of health by opting self isolation at least for next 2 weeks. Financial capital Mumbai along with many other cities has been asked to undergo fully / partial lock down to control virus spread at a large.Keeping health as a first & foremost priority- most of manufacturing industries are going to close / shut their operations either fully / partially. This is going to impact adversely on polymer consumption & procurement pattern.

Under given situation & calculating price governing factors , we advise to opt for cautious buying.

▶ PS & ABS Weekly Report & Future Trend : 3rd Week March 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude closed higher by 1.90% at $ 33.85/bbl, WTI closed higher by 0.73% at $ 31.73/bbl,  but a Saudi-Russian price war and the global spread of the COVID-19 pandemic still meant prices posted the sharpest weekly drop since 2008. The coronavirus sparked panic selling across markets for the bulk of the week. The virus has infected at least 138,000 people worldwide and killed more than 5,000, disrupting business, markets and daily life. Hopes for a US stimulus package that could ease an economic shock from the coronavirus provided some support to the oil and stock markets on Friday.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 09/03/20 ) : 6583
✅ Friday Closing ( 13/03/20 )  : 6250

✅ Week On Week Difference : Down 5.06


🔹 Indian Bazaar :
 At Indian Bazaar -buying sentiments are much poor for GPPS, HIPS & ABS.This week , latest offers for GPPS & HIPS for CIF Nhava Seva assessed at US1130-1140 $/Mt  & US 1190-1200 $/Mt respectively. While offer for ABS for same location recorded at US 1330-1340 $/Mt for late March shipments. 

Drastic fall of Crude & Natural gas price during week is going to leave major footprint on Polymers price. In addition to this COVID 19 -outbreak as major influencing factor disrupting global supply chain movement, mfg. ratio & finally slowing down demand in finished products.Processors are planning to book inventories at most low levels by opting for need base purchase only.

Looking to current scenario & global turmoil - buying is suggested for routine consumption only.


▶ PS & ABS Weekly Report & Future Trend : 2nd Week March 2020.
🔹 Crude Oil Scenario:
On Friday,Brent Crude Oil closed lower by 9.44% at $ 45.27/bbl while WTI closed lower 10.07% at $ 41.28/bbl, bazaar  rallied a bit during the week but rolled over again as OPEC can do very little to stem the selloff. There had been talk about OPEC cutting back 1 million barrels per day while the others such as Russia could cut back 500,000 per day, but that has fallen apart. As per sources that Moscow would not back an OPEC call for extra reductions in oil output and would agree only to an extension of existing cuts by OPEC and its allies, a group known as OPEC+.

🔷 China Bazaar Scenario:

The coronavirus outbreak continues to severely disrupt economic activity and will weigh heavily on economic growth in the first quarter of 2020. Chinese government has restricted transportation, which, together with widespread fear among the population, is hitting consumption and manufacturing. That said, recent monetary easing measures and targeted fiscal support from the government should be propping up activity somewhat. Plastics & polymer industry is largely affected by corona epidemic ,which reflects from the polymers continuously falling price & reduced consumption pattern.


🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 02/03/20 ) : 6600
✅ Friday Closing ( 06/03/20 )  : 6600

✅ Week On Week Difference : Stable


🔹 Indian Bazaar :
Latest Int'l. quote for CIF NS of GPPS & HIPS assessed at US$ 1160-1170 /MT & US $ 1180-1190  /MT respectively for March'20 shipments, while ABS accounted for US$ 1320-1330 /MT.During such volatile phase processors are following ' Need base buying ' pattern & not ready to build any inventories. Based on current scenario & changing global equations , we advise to step in for cautious buying only.

▶ PS & ABS Weekly Report & Future Trend : 1st Week March 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude closed lower by 3.18% at $ 50.52/bbl while WTI closed lower by 4.95% at $ 44.76/bbl, with U.S. benchmark prices down over 16% for the week, the largest weekly decline in more than 11 years, with the spread of the COVID-19 epidemic around the world expected to significantly dent demand for crude. The tumble puts increased pressure on the OPEC+ as they prepare to meet next week to discuss the possibility of additional production cuts in a bid to balance supply and demand.New reports on Friday said that key OPEC members were looking favorably on a larger-than-previously-expected output cut.

🔷 China Bazaar Scenario:

The Coronavirus Disease 2019 (Covid-19) outbreak in China is expected to disrupt supply-demand dynamics of the petrochemicals bazaar, causing a possible continued pressure on average selling prices across the petrochemicals value chain.According to ongoing situation- the prolonged Lunar New Year holiday that took place since late-January had further exacerbated the situation with disruptions at various petrochemical plants in China. 


Sinopeck-SK Wuhan Petrochemical which had lowered the operating rate of its 800 KTPA cracker by 10 % recently. In addition to this, company's  300KTPA cracker expansion which is scheduled for completion in July'20 has been delayed. Price levels are continuously experiencing selling pressure & falling down on account of restricted / shutdown or partially operated mfg. activities.


🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)

✅ Monday Opening ( 24/02/20 ) : 6633
✅ Friday Closing ( 28/02/20 )  : 6700

✅ Week On Week Difference : Up 1.01%


🔹 Indian Bazaar :
Latest Int'l. quote for CIF NS of GPPS & HIPS assessed at US$ 1160-1170 /MT & US $ 1180-1190/MT respectively for March'20 shipments, while ABS accounted for US$ 1320-1330 /MT.During such volatile phase processors are following " Need base buying " pattern & not ready to build any inventories. Based on current scenario & changing global equations , we advise to step in for cautious buying only.

▶ PS & ABS Weekly Report & Future Trend : 4th Week February 2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 1.37% at 58.50/bbl, while WTI closed lower by 0.78% at $ 53.46/bbl. pressured by a reported rift in the crude-production alliance between Saudi Arabia and Russia, as concerns about the spread of COVID-19 in China and beyond take a toll on expectations for energy demand.  OPEC+ are scheduled to hold meetings on March 5-6 in Vienna to discuss production and demand against a backdrop of worries surrounding COVID-19.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 17/02/20 ) : 6566
✅ Friday Closing ( 21/02/20 )  : 6633

✅ Week On Week Difference : Up 1.02%


🔹 China Bazaar:

High End panic & lot of uncertainties - is a current situation due to Corona Virus epidemic . The out break has impacted total supply chain marginally & hampered global trade. In order to prevent virus spread Chinese authorities had asked industry to opt for fully or partially closure/shut down. Inventory levels are piling up with Polymer producers as convertors are not fully back to desk. 


🔹 Out Look :
At Global Bazaar : Ample availability & sluggish demand in finished products , has created an environment of price war, though planned / Unplanned turn arounds will take place in South East Asian countries.

 

 At India : This week , open bazaar remained under selling pressure for GPPS , HIPS & ABS variants.Indian producer has offered handsome discounts on lifting of GPPS for the month of February'20. Current delta between GPPS & HIPS price has reached new heights of Rs 8-10/kg.Latest offers for GPPS & HIPS for Nhava seva assessed at US$ 1160-1170/ Mt & US $  1180-1190 /Mt respectively with approx. decrement of  US$ 20/mt when compared with last week offers,While offers for ABS accounts for US $1340-1350 /Mt for March'20 deliveries.

Lackluster buying interest & other price governing factors signals to operate safe before entering into inventory building exercise. Convertors are advised to opt for Need base buying.

▶ PS & ABS Weekly Report & Future Trend : 1st Week February 2020.
🔹 Crude Oil Scenario:
On Friday, Brent Crude oil closed lower by 0.22% at 58.16/bbl, while WTI closed lower by 1.11% at $ 51.56/bbl, were on track for a fourth consecutive weekly loss, as markets grew more concerned about the economic damage of the new coronavirus that has spread from China to around 20 countries, killing more than 200 people. Saudi Arabia has opened a discussion about moving an upcoming policy meeting to early February from March to address the impact of coronavirus on crude demand.

🔹 China Bazaar:
Due to Corona Virus, China bazaar will remain close upto 9th Feb’20. Shanghai authorities have separately advised companies not to resume work until at least Feb. 9th. 2020.

🔹 Purchase Opinion :
Remaining close for long holidays & non participation in global buying ,Polymers price is going to be highly affected. Considering the above possibilities along with geo political unrest & other price governing factors , Polymer buying is advisable at current price levels.

▶ PS & ABS Weekly Report & Future Trend : Last Week January 2020.
🔹 Crude Oil Scenario:

On Friday,Brent crude closed lower by 2.18%at $60.69/bbl while WTI closed lower by 2.25% at $53.49/bbl,heading for a weekly decline as concern that the coronavirus in China may spread, curbing travel and oil demand, outweighed the impact of cuts to supply. U.S. Energy Information Administration's latest weekly supply report, which on Thursday showed crude inventories fell 405,000 barrels in the week to Jan. 17. Saudi Arabia's energy minister said all options are open at the next OPEC+ meeting in March, including further cuts, Al Arabiya television reported on Thursday.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 20/01/20 ) : 7233
✅ Friday Closing ( 24/01/20 )  : 7233

✅ Week On Week Difference : No Change

🔷 Purchase Opinion :

Stagflation looms as India grinds toward its slowest expansion in more than a decade. As per available source Indian Government may revise BCD ( Basic Custom Duty ) upward on import of polymers in range of 2.5 to 5 % in order to safe guard domestic polymer producers.


👉  Taking all price deciding factors in to calculation- Polymer procurement is suggested at current level.


PS & ABS Weekly Report & Future Trend : 4th Week January 2020.


🔹 Crude Oil Scenario:
On Friday, Crude Oil futures ended with a modest gain, butregistered a loss for a second week in a row as traders continued to weigh theprospects for energy demand in the wake of the China-U.S. trade deal and Senateapproval of the U.S.-Mexico-Canada trade pact this week.Chinese officials saidits country saw economic growth falling to anew multi-decade low of 6.1% in2019.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅ Monday Opening ( 13/01/20 ) : 7233
✅ Friday Closing ( 17/01/20 )  : 7233
✅ Week On Week Difference : Stable

🔷 Purchase Opinion :


  Looking to current scenario , geological unrest , international trend & other price governing factors - Polymer buying is suggested.  


Click here to Download PDF Report with Historical Data

▶ PS & ABS Weekly Report & Future Trend : 3rd Week January 2020.
🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed lower by 0.60% at 64.98/$, WTI also closed lower by 0.87% at 59.04/$,with prices posting their biggest weekly percentage fall in at least five months, as fears of a wider U.S.-Iran confrontation faded and data earlier this week showed a rise in U.S. crude inventories.Iran responded earlier this week with missile strikes aimed at bases housing U.S. forces in Iraq. The attacks produced no U.S. casualties and President Donald Trump on Wednesday indicated he was uninterested in further escalation of the conflict. The Energy Information Administration on Wednesday said U.S. crude inventories rose by 1.2 million barrels in the previous week.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 06/01/20 ) : 7216
✅Friday Closing ( 10/01/20 )  :7233
✅Week On Week Difference : Up 0.23%

🔷 Indian Bazaar :
At domestic front , buying sentiments are strong amid higher international offers & limited avails of material.Indian producers announced price increments wef 9th Jan'20-  in addition to withdrawal of discount scheme. Latest offers for GPPS & HIPS for CIF Nhavaseva assessed at US$1160-1170 /mt & 1210-1220/mt respectively, while ABS is offered at  $1420-1430 /mt .Referring to ongoing scenario along with factors influencing pricing policies - Polymer buying is suggested at current level.

PS & ABS Weekly Report & Future Trend : 2nd Week January 2020.

🔹 Crude Oil Scenario:
On Friday, Brent crude oil closed higher by 3.55% at $ 68.60/bbl while WTI closed higher by 3.06% at $ 63.05/bbl. Oil prices were already trending higher when the EIA released its weekly petroleum status report, pushed up by news about a U.S. air strike in Baghdad that killed a high-ranking Iranian military commander. This is the latest move in a fast escalation in the Middle East that has already sparked worry about the security of supply from the world’s number-one exporting region.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 30/12/19 ) : 7266
✅Friday Closing ( 03/01/20 )  :7150
✅Week On Week Difference : Up 1.61%

🔷 Indian Bazaar :  
On account of recent developments of conflict between USA & Iran - Crude OIL prices soared more than 4 % after a US airstrike killed Iranian General Qassem Soleimani. Assumptions are being made to observe hike in global polymer offers -if situation isn't improving & tension continue to remain.

Indications are coming in news to witness price rise in day ahead supported by ongoing higher crude price, changing global equations & other price governing factors. At current rate ,we advise to step in to procurement, Indian producers may revise prices upward.

 PS & ABS Weekly Report & Future Trend : Week 1st January 2020.

🔹 Crude Oil Scenario:    
On Friday, Brent Crude closed higher 0.35% at $ 68.16/bbl, while WTI closed higher 0.06% at $61.72/bbl, finished a holiday-shortened week near a three-month peak, after a report showed a bigger-than-expected decline in U.S. stores of crude and its byproducts.EIA data also showed supply increases of 1.963 million barrels for gasoline stocks and a decline of roughly 152,000 barrels for distillates. U.S. energy reports were delayed this week due to the Christmas holiday. OPEC+ may consider ending a pact to reduce global production next year.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 23/12/19 ) : 7383
✅Friday Closing ( 27/12/19 )  :7266
✅Week On Week Difference : Down 1.58%

🔷Indian Bazaar : 
Global trend is shifting from stable to firm.Buying pulse is improved with an approach to build inventories at current price level. Looking to current scenario, changing global equations & other price governing factors ,Polymer buying is suggested.


Click to edit table header

🔹 Crude Oil Scenario:    
On Friday, Brent Crude oil closed lower by 0.60% at $ 66.14/bbl while WTI closed lower by 1.21% at $ 60.44/bbl, but both benchmarks logged a third straight weekly gain amid the easing of U.S.-Chinese trade tensions, which has boosted business confidence and the outlook for global economic growth.China on Thursday announced a list of import tariff exemptions for six oil and chemical products from the United States, days after Washington and Beijing said an interim trade deal is set to be signed in January.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 16/12/19 ) : 7400
✅Friday Closing ( 20/12/19 )  :7450
✅Week On Week Difference : Up 0.68%

🔷Indian Bazaar : 
Local demand is encouraging after recent hike in ABS prices. Latest international offers for CIF NS assessed higher in range of $10-20/mt for GPPS & HIPS at $1145-1155/mt & $1190-1200/mt respectively ,while ABS offers were static at $ 1370-1380/mt for January 2020 shipments.

Processors are steadily increasing their buying volumes in order to build inventories with an anticipation of price rise in days ahead.After reviewing all price governing factors , purchase of polymer is advisable.


 PS & ABS Weekly Report & Future Trend : Week 3rd December 2019.  
🔹 Crude Oil Scenario:On Friday, Brent Crude closed higher by 1.59% at $ 65.22/bbl while WTI closed higher by 1.50% at $ 60.07/bbl. The U.S. and China said they have reached a preliminary agreement on a phase one trade agreement. The lack of a trade agreement had been a major headwind to crude demand, but oil prices got a boost Thursday when President Donald Trump tweeted that the U.S. was “getting VERY close to a BIG DEAL with China.”

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 9/12/19 ) : 7500
✅Friday Closing ( 13/12/19 )  :7450
✅Week On Week Difference : Down 0.67%

🔷Indian Bazaar : 

Moderate buying activities reported in the region with wait & watch policy adopted by buyer. Latest offers for GPPS  ,HIPS & ABS for CIF Nhava seva assessed almost stable when compared with last week.Processors are not ready to carry extra inventories & voicing need base buying tone.Thin demand in finished products , cut throat competition & payment crisis has forced converters to act much cautiously.

Looking to current scenario & changing global equations , Polymer buying is suggested.

👉 Click Here to Download PDF Report with historical data: 
▶ PS & ABS Weekly Report & Future Trend : Week 2nd December 2019.
🔹 Crude Oil Scenario:
On Friday Brent Crude closed higher 1.58% at $64.39/bbl while WTI closed higher by 1.32% at 59.20/bbl. U.S. prices up more than 7% for the week to mark their highest weekly percentage climb since June. Prices got a lift after the OPEC+ announced an agreement to cut production by an additional 500,000 barrels a day starting in January. Including the 1.2 million barrels in reductions under the current pact, that will bring total output cuts to 1.7 million barrels a day from October 2018 levels.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 2/12/19 ) : 7316
✅Friday Closing ( 6/12/19 )  :7416
✅Week On Week Difference : Up 1.37%

🔷Indian Bazaar :
The buying sentiments seems to be of modest improvements after recent price hike in HIPS.Latest international offers for GPPS & HIPS assessed stable at $1100-1110/mt while 1170-1180/mt CFR Nhava Sheva basis respectively, while ABS offers also stood stable at $ 1330 - 1340/mt CFR Nhava Sheva basis.

Based on recent development , With 1st January 2020-international freight charges are likely to be increased on account of IMO ( International Maritime Organisation ) regulation.As per regulation, shipping companies will have to shift their usage of gasoline with low sulfur percentage. ( 0.5% M/M against current used fuel of 3.5% ).

Implementation of above regulation will invite hike in shipping charges by approximately US $ 10-15 /mt ,which will result in higher landing cost allowing polymer price to rise. Referring to recent set of variants which effects Polymer's price - buying at current levels is advisable.

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


🔹 Crude Oil Scenario:On Friday, Brent Crude oil closed lower by 0.91% at 63.39/bbl, while WTI Closed lower 1.38% at 57.77/bbl. Oil pared its third weekly advance amid mixed signals on a trade agreement between the U.S. and China, which would end an impasse that has weighed on the global economy and fuel demand. The EIA on Wednesday reported that U.S. crude supplies rose by 1.4 million barrels for the week ended Nov. 15. That followed increases in each of the past three weeks.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 18/11/19 ) : 7483
✅Friday Closing ( 22/11/19 )  :7233
✅Week On Week Difference : Down 3.34%

🔷Indian Bazaar : 
Global prices softened further ,which has forced local producers to offer Additional discounts to boost buying sentiments in GPPS,HIPS & ABS.Manufacturers are of the opinion to keep raw material stock at bottom levels until situation improves. Imported cargoes with cheaper price are hitting sale of domestic make ,while industry is also affected severely due to migration of finished products from Plastic to other traditional material.
At PolymerBazaar,after reviewing price controlling factors -Need base buying is suggested at current level.

👉 Click Here to Download PDF Report with historical data: 

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

🔹 Crude Oil Scenario:On Friday, Brent Crude closed higher by 0.35% at $ 62.51/bbl while WTI closed higher 0.16% at $ 57.24/bbl. U.S. prices settling at a fresh six-week high, as traders gauged expectations for energy demand against conflicting news tied to China-U.S. trade talks.On Friday, President Donald Trump told reporters that he hasn’t yet agreed to remove tariffs on Chinese goods. On top of that, recent inventory reports indicate that supplies are rising faster than uptake.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 4/11/19 ) : 7466
✅Friday Closing ( 8/11/19 )  :7600
✅Week On Week Difference : Up 1.79%

🔷Indian Bazaar : 
This week , Indian Producer Supreme Ind. slashed GPPS & HIPS price by Re 1/kg.Latest offers of ABS , HIPS & GPPS for CIF NS were assessed lower when compared with last week. Buying tone is under pressure & processors are planning to keep inventories at  most low level.After reviewing current price governing factors , wait & watch is suggested.

👉 Click Here to Download PDF Report with historical data: 

 PS & ABS Weekly Report & Future Trend : Week 1st November 2019.

🔹 Crude Oil Scenario:On Friday, Brent crude closed higher by 3.47% at $ 61.69/bbl, while WTI closed higher by 3.73% at $ 56.20/bbl,  on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers. But the move higher was not enough to recover losses earlier in the week and oil ended the week lower. President Donald Trump and U.S. negotiators are “very optimistic” on a trade deal with China, White House adviser Larry Kudlow said on Friday.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 28/10/19 ) : 7800
✅Friday Closing ( 01/11/19 )  :7566
✅Week On Week Difference : Down 2.99%

🔷Indian Bazaar : 
Wef 1st Nov.19, Indian Producer Supreme Ind. decreased rate of GPPS & HIPS by Re.1/kg ,however demand is still a constraints since industry remained busy in celebrating Indian Traditional New Year ' DIWALI'.Fresh round of offers for GPPS & HIPS assessed at USD 1150-1160/MT & US$ 1200-1210 /MT respectively ( CIF NS).ABS is also under pressure of witnessing price cut since latest international offers for same is assessed down by USD 20/mt at US$ 1360-1370  for CIF Nhavaseva for late November deliveries.

Processors aren't ready to build inventories at current levels in anticipation of more attractive offers to be announced in days ahead. Reviewing recent trend & further variables, we advise to proceed for  Need base buying for now.

👉 Click Here to Download PDF Report with historical data: 

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


🔹 Crude Oil Scenario: On Friday, Brent crude closed lower by 0.82% at $ 59.42/bbl while WTI closed lower by 0.28% at  53.78/bbl. Futures in New York fell 1.7% this week, while Brent Crude slashed by 1.8% in past week. U.S. crude inventories rose by 9.3 million barrels in the week through Oct. 11, according to data from EIA. The U.S. and Turkey reached a case-fire pact in Syria, temporarily easing Middle East tensions.Oct.19.

🔷 China Bazaar Scenario:

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 14/10/19 ) : 8166
✅Friday Closing ( 18/10/19 )  :7766
✅Week On Week Difference : Down 4.90%

🔷Indian Bazaar : 
An approach of ' Wait & Watch' -observed in current buying pattern ,though industry is about to observe ' Traditional New Year - Diwali'.Buying pattern is muted & highly effected due to Single Use Plastic ban issue.However 'SUP' ban isn't implemented by Indian Govt. Industry is waiting for attractive offer for next procurement.
Buyers are requested to monitor major price supporting equations closely before stepping in to inventory building.Based on current scenario & other commercial factors -buying is advisable for routine consumption only.
 PS & ABS Weekly Report & Future Trend : Week 3rd October 2019.


🔹 Crude Oil Scenario: On Friday, Brent crude oil closed higher by 2.39% at $60.51/bbl, while WTI closed higher 2.15% at $ 54.70/bbl, a weekly gain of nearly 4%. Progress in U.S.-China trade negotiations eased worries about energy demand, and news of an explosion on an Iranian tanker fed tensions in the Middle East, raising the potential for crude-output disruptions in the region are big factors for the rise. The EIA on Wednesday reported that U.S. crude supplies climbed for a fourth week in a row, by 2.9 million barrels for the week ended 4th Oct.19.

🔷 China Bazaar Scenario:
🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 7/10/19 ) : 8666
✅Friday Closing ( 11/10/19 )  :8250
✅Week On Week Difference : Down 4.81%

🔷Indian Bazaar : 
At local Bazaar - demand is slow though festive season is approaching.This week- Indian PS producers announced discount of Rs.2/kg for GPPS & HIPS ( for quantity buyers ).ABS prices are static & witnessing ' wait & watch ' approach of buyers .

The international offers for CIF NS pertaining import of  GPPS, HIPS & ABS are following almost stable pattern.The burning issue of industry was uncertainty of implementation of 'Single Use Plastic- SUP' ban from 2nd Oct.2019.Ongoing general economy recession has impacted the end product demand in turn lead processors to procure raw materials  more cautiously with minimum inventories levels.However 'SUP' ban isn't implemented by Indian Govt.

Looking to current scenario & other commercial factors -buying is advisable for routine consumption only..

▶ PS & ABS Weekly Report & Future Trend : Week 2nd October 2019.
🔹 Crude Oil Scenario: On Friday, Brent Crude closed higher by 1.14% at $ 58.37/bbl while WTI closed higher by 0.69% at 52.81/bbl. Brent futures fell 5.7% for the week, its biggest weekly drop since July. WTI lost 5.5% for the week, also its steepest fall since July. Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, said Thursday the world’s top crude oil exporter had fully restored oil output after attacks on its facilities last month knocked out more than 5% of global oil supply.

🔷 China Bazaar Scenario: China bazaar will remain close from 1st - 7th October 2019 due to National Holidays.

🔷Purchase Opinion :
Domestic demand is poor with need base buying approach from converters.Crude oil prices settled down after time being increment and most Saudi Petrochemical plants announced a return to routine production rates by September end.Supplies were still affected as most of Saudi based polymer producers declared shipments delay for October 2019.

Latest offers for CIF Nhava seva of GPPS & HIPS assessed stable at $1180 - 1190/mt & $$ 1260-1270/mt while ABS offers assessed lower by $15/mt at $1455-1465/mt respectively for October 19 shipments.  

Looking to current scenario & other price governing factors - Needbase buying is suggested.

 PS & ABS Weekly Report & Future Trend : Week 1st October 2019.

🔹 Crude Oil Scenario:In this week Brent fell 3.7%, posts biggest weekly loss since early August, while WTI lost 3.6%, its steepest loss since mid-July. Oil prices fell on Friday and posted a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about global crude demand amid slowing Chinese economic growth.

🔷 China Bazaar Scenario: 

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 23/9/19 ) : 8783
✅Friday Closing ( 27/9/19 )  :8716
✅Week On Week Difference : Down 0.76%

🔷Purchase Opinion : ARAMCO -Saudi Arabia has restored its oil production capacity to 11.3 million BPD. Sources further briefed on Aramco’s operations - maintaining a faster than expected recovery after the drone attack on 14 September 2019 on its oil facilities. 
In reference with current global scenario , upcoming festive season & other price governing factors -polymer buying is suggested.



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


🔹 Crude Oil Scenario: On Friday,Brent Crude oil closed lower by 0.19% at $ 64.28/bbl while WTI closed lower by 0.07% at $ 58.09/bbl. Crude  registered a sharp gain for the week, their largest in months, after attacks on Saudi Arabian production facilities last weekend raised concerns over the amount of spare capacity in the oil market. In the United States, meanwhile, flooding from Tropical Storm Imelda forced a major refinery to cut production, while a key oil pipeline, terminals and a ship channel in Texas were shut, according to sources familiar with operations.

🔷 China Bazaar Scenario: 

🔷 Styrene Monomer Spot Bazaar offers( RMB/MT)
✅Monday Opening ( 16/9/19 ) : 9066
✅Friday Closing ( 20/9/19 )  :8800
✅Week On Week Difference : Down 2.94%

🔷 Indian Bazaar scenario: PS & ABS
Looking to current changing scenario ,Geological unrest ,Upcoming festive season & other price governing factors -Polymer Buying is suggested .


 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