SM prices decline in Asia

On Tuesday, SM prices witnessed a fall in Asia.

An industry source in Asia informed a Polymerupdate team member, “Prices were assessed lower on the back of weaker upstream benzene prices and bearish buying sentiments in the Asian markets.”

On Tuesday, FOB Korea SM prices were assessed at the USD 1065-1075/mt levels, a fall of USD (-15/mt) from Monday's assessed levels.

CFR China SM prices on Tuesday were assessed at the USD 1030-1040/mt levels, a day on day drop of USD (+15/mt).

Meanwhile, upstream benzene prices on Tuesday were assessed at the USD 900-910/mt FOB Korea levels, a decline of USD (-25/mt) from Monday.

In plant news, Formosa Chemicals & Fibre Corp (FCFC) has recently shut its No.1 and No.2 Styrene monomer (SM) units for maintenance. Further details on the duration of the shutdown could not be ascertained. Located at Mailiao, Taiwan, the No.1 unit has a production capacity of 250,000 mt/year and No.2 unit has a production capacity of 350,000 mt/year.