Styrene Monomer (SM) prices ease in Asia

Last week, Styrene monomer prices fell in the Asian region.

An industry source in Asia, on condition of anonymity, informed a Polymerupdate team member, “The recent drop in styrene monomer prices is mainly due to the softening of upstream energy markets and the falling values of benzene feedstock. With the decline in energy prices such as crude oil and natural gas, the expense of producing styrene monomer has also reduced. This is due to the fact that energy inputs are major factors in the total production expenses for styrene. Moreover, benzene, an essential raw material for producing styrene monomer, has also experienced a decrease in prices. Due to the impact of global oil and energy markets on benzene prices, their decrease also helped lower styrene expenses. This correlation shows that the styrene market is strongly linked to linked to energy and petrochemical markets, where changes in feedstock costs directly affect the pricing of the monomer.”

The source added, “Crude oil prices fell after reports emerged that the U.S. Court of Appeals had temporarily halted a decision declaring former President Donald Trump’s tariffs unlawful. This legal change introduced new uncertainty into global trade dynamics, weakening market sentiment and adding to the downward pressure on oil prices.”


On Friday, CFR South East Asia SM prices were assessed at the USD 915-925/mt levels, while CFR India SM prices were assessed at the USD 925-935/mt levels, both decreased by USD (-15/mt) week on week.

In the meantime, the spot negotiations for Styrene Monomer shipments in Southeast Asia for July reflect a lively and adaptive market situation. Participants are continually evaluating supply availability, pricing trends, and regional demand elements to make knowledgeable buying and selling choices. These initial discussions act as a significant gauge of market sentiment and may affect later price changes and contract discussions in the area.

A producer located in Thailand remarked on the tough market situation, emphasizing that the timeframe from April to June has been especially challenging for their activities. They credited a significant portion of this pressure to the ongoing repercussions of the U.S.-China tariff scenario, which has disturbed trade patterns and adversely impacted demand. The producer mentioned that these tariffs have introduced ambiguity in the market, resulting in diminished buying sentiment and slow business activity. In spite of these challenges, the producer conveyed a measured sense of hope for the upcoming months, mentioning their expectation for market conditions to enhance between July and August. This anticipated rebound is probably rooted in seasonal demand trends or the optimism for improved clarity in international trade dynamics.

In India, a local trader mentioned that although there is market demand, it is still somewhat limited or cautious, as final consumers are actively seeking lower prices prior to making purchase commitments. Market sources opine that current spot trading for styrene is quite restricted, primarily because numerous buyers and sellers have secured contracts, decreasing the demand for further spot deals. Although spot trade remains quiet, numerous international sellers have provided spot offers in the market, suggesting that supply exists, but buyers might be reluctant to participate at the current price levels. Participants are not offering styrene at the moment and are absent from the market. Nevertheless, at its core, there has been no change in the styrene market, which continues to be sluggish

CFR Taiwan SM prices were assessed at the USD 915-925/mt levels, while FOB Korea SM prices were assessed at the USD 880-890/mt levels, both lower by USD (-10/mt) from the previous week.

CFR Japan SM prices were assessed at the USD 890-900/mt levels, while CFR China SM prices were assessed at the USD 890-900/mt levels, both week on week dropped by USD (-10/mt).

Benzene feedstock prices on Friday were assessed at the USD 700-710/mt FOB Korea levels, down USD (-10/mt) from the previous week.

In plant news, Hanwha TotalEnergies Petrochemical has taken off stream its No.2 Styrene monomer (SM) plant early this week owing to a process upset. Further details on the duration of the shutdown could not be ascertained. Located in Daesan, South Korea, the No.2 unit has a production capacity of 650,000 mt/year.

In other plant news, Aster Chemicals and Energy is in plans to restart its No.2 Styrene monomer (SM) in mid-June 2025 following a turnaround. The unit was shut for maintenance in early May 2025. Located in Pulau Seraya, Singapore, the No.2 SM unit has a production capacity of 620,000 mt/year.