Styrene monomer (SM) prices trend downward in Asia

On Tuesday, SM prices were assessed lower in Asia.

An industry source in Asia informed a Polymerupdate team member, "SM prices declined on the back of weaker crude values coupled with dull market momentum in the Asian region."

The source added, "Bearish upstream benzene values further contributed to the pricing downtrend."

On Tuesday, FOB Korea SM prices were assessed at the USD 910-920/mt levels, a drop of USD (-20/mt) from Monday.

CFR China SM prices were assessed at the USD 920-930/mt levels, a fall of USD (-20/mt) from Monday’s assessed levels.

Meanwhile, upstream benzene prices on Tuesday were assessed at the USD 725-735/mt FOB Korea levels, down (-5/mt) from Monday.

In plant news, Formosa Chemicals and Fibre Corp (FCFC) is likely to resume production at its No.3 Styrene monomer (SM) unit by end May 2025. The unit was shut for maintenance on April 14, 2025. Located in Mailiao, Taiwan, the No.3 SM unit has a production capacity of 720,000 mt/year.