Styrene monomer (SM) prices surge in Asia

Despite weaker upstream crude values, SM prices rose sharply in Asia on Tuesday.

Prices increased in line with strong demand, as buying interest improved following the holiday period. Additionally, firmer feedstock benzene values provided further support to SM prices across Asia.

FOB Korea SM prices were assessed at USD 980-990/mt levels, a sharp gain of USD (+35/mt) from Monday’s assessed levels.

CFR China SM prices were assessed at USD 980-990/mt levels, a surge of USD (+40/mt) from the previous day.

Meanwhile, FOB Korea benzene feedstock prices were assessed at USD 775-785/mt levels, a day-on-day rise of USD (+5/mt).