Styrene Monomer Prices Pick Up in the Asian Markets
Styrene monomer prices have gained in Asia on Monday. The price hike was triggered by stronger crude values and stronger gains recorded in Benzene feedstock rates. Apart from the firm crude values and feedstock prices, the availability of the product was also limited in the region which further supported the price hike. FOB Korea Styrene prices were assessed at the USD 1045 per tonne levels which showed a gain of USD 10 per tonne from Friday’s assessed levels. CFR China Styrene prices were assessed higher at USD 1065 per tonne which also showed a rise of USD 10 from the Friday’s assessed levels. Moreover, the upstream Benzene prices on Monday were assessed at USD 880 per tonne which also showed a gain of USD 15 per tonne from the Friday’s assessed prices. with the prices picking up after a falling trend in Asia, the prices are expected to continue to rise by a factor of 5%-10% in the upcoming week owing to limited product availability and higher crude prices supported by higher benzen...