Styrene monomer (SM) prices decline in Asia

SM prices decreased in Asia on Thursday.

An industry source in Asia informed a Polymerupdate team member, “Prices were assessed lower due to weaker upstream benzene prices coupled with a sluggish regional buying momentum.”

On Thursday, FOB Korea SM prices were assessed at the USD 1125-1135/mt levels, a drop of USD (-20/mt) from Wednesday’s assessed levels.

CFR China SM prices on Thursday were assessed at the USD 1135-1145/mt levels, a day on day decline of USD (-20/mt).

Meanwhile, upstream benzene prices on Thursday were assessed at the USD 1030-1040/mt FOB Korea levels, down USD (-20/mt) from Wednesday.

In plant news, Sinochem Quanzhou Petrochemical is likely to shut its Styrene monomer (SM) plant for maintenance on May 7, 2024. Further details on the duration of the shutdown could not be ascertained. Located in Fujian, China, the plant has production capacity of 450,000 mt/year.