Styrene Monomer (SM) prices surge in Asia

On Thursday, SM prices were assessed sharply higher across Asia.

Prices moved higher, supported by stronger energy values, while sellers maintained firm offers. However, downstream buyers resisted the higher costs and remained cautious, resulting in weak buying interest and subdued market activity.

FOB Korea SM prices were assessed at USD 1405-1415/mt levels, a surge of USD (+45/mt) from Wednesday’s assessed levels.

CFR China SM prices were assessed at USD 1365-1375/mt levels, a sharp increase of USD (+45/mt) from the previous day.

Meanwhile, FOB Korea benzene prices were assessed at USD 1210-1220/mt levels, a sharp day-on-day rise of USD (+40/mt).