Styrene monomer (SM) prices rise in Asia

On Thursday, SM prices in Asia moved higher, supported by rising upstream energy costs and firmer benzene feedstock values as crude oil markets strengthened amid renewed Middle East tensions. Buying sentiment improved in key regional markets, particularly as some consumers returned to cover prompt requirements after earlier cautious purchasing.

Additional support came from ongoing supply concerns, including tighter availability from Northeast Asia and delays in cargo movements linked to freight uncertainty.

FOB Korea SM prices were assessed at USD 1350-1360/mt levels, up USD (+15/mt) from Wednesday’s assessed levels.

CFR China SM prices were assessed at USD 1300-1310/mt levels, an increase of USD (+15/mt) from the previous day.

Meanwhile, FOB Korea benzene feedstock prices were assessed at USD 1090-1100/mt levels, a sharp day-on-day rise of USD (+10/mt).