Styrene monomer (SM) prices leap higher in Asia

On Tuesday, SM prices raced higher in Asia.

An industry source in Asia informed a Polymerupdate team member, "SM prices increased on the back of a bullish market momentum in the Asian region."

The source added, "Higher upstream benzene values further contributed to the pricing uptrend."

On Tuesday, FOB Korea SM prices were assessed at the USD 915-925/mt levels, a sharp gain of USD (+70/mt) from Monday.

CFR China SM prices were assessed at the USD 925-935/mt levels, sharply higher by USD (+70/mt) from Monday’s assessed levels.

Meanwhile, upstream benzene prices on Tuesday were assessed at the USD 730-740/mt FOB Korea levels, sharply up USD (+50/mt) from Monday.