Asian styrene prices rise amid geopolitical tensions and energy market volatility

Last week, Styrene monomer (SM) prices climbed sharply across the Asian region, supported by firmer market sentiment and tightening supply.

An industry source in Asia told a Polymerupdate team member, “Asian styrene prices moved higher, supported by stronger energy markets and rising geopolitical tensions in the Middle East. Market participants noted that the ongoing conflict has increased concerns over potential disruptions to key shipping routes, which could affect the movement of styrene cargoes into Asia. The latest developments in the region have kept crude oil markets volatile, strengthening the overall cost base for petrochemical producers. Amid these concerns, trading sentiment turned more bullish as buyers rushed to secure material, driving styrene prices upward.”

FOB Korea prices were assessed at USD 1180–1190/mt levels, a week-on-week spike of USD (+210/mt).

CFR Japan SM prices were assessed at USD 1170–1180/mt levels while CFR China SM prices were assessed at USD 1170–1180/mt levels, both steeply higher by USD (+210/mt) from the previous week.

CFR South East Asia SM prices were assessed at USD 1210–1220/mt levels, a week-on-week spike of USD (+220/mt). CFR Taiwan SM prices were assessed at USD 1180–1190/mt levels, a sharp rise of USD (+200/mt) from the previous week.

CFR India SM prices were assessed at USD 1235–1245/mt levels, a week-on-week steep rise of USD (+225/mt).

Meanwhile, benzene feedstock prices were assessed at USD 960–970/mt FOB Korea levels, a surge of USD (+190/mt) from the previous week.