ChemAnalyst

In this week, the prices of Styrene Monomer (SM) slipped to $1340/ton Spot Ex-Tianjin and $1230/ton CFR Shanghai with week-on-week declination of 0.44% and 1.6% respectively. Feedstock Benzene prices were also ended with weaker note in China and demand remained sluggish. The prices of Benzene in China were observed to be $1075/ton CFR Shanghai. Domestic styrene monomer (SM) costs dropped down this week in the face of milder futures as crude values were fluctuating downwards. Inventories at ports in east China expanded further but the growth was at a slower pace. In the meantime, somewhere around 60,000 tons of cargoes will be sent out in February-March, which is also expected to haul down the stock level later. It needs monitoring whether some independent makers will either carry out functional reductions or turnarounds out of plan in view of widening losses in production. FOB Korea Benzene was observed to be steady with $1039/ton. Weaker buying sentiments for feedstock from Styrene m...

On 21 st January, the prices of Polystyrene surged to $1650/ton FD Hamburg, the price trend is observed to be rising continuously with inclined trajectory. With strong demand, such trajectory is seen from August 2021 where prices were $1200/ton and since then, the prices kept surging. Inadequate stock of Styrene and its feedstock the European market, made issue in the locale to meet the necessities in their domestic as well as in the international market. In Germany, the prices of Benzene, which is the feedstock of the product observed to be steady on the higher side with the cost of $1250/ton FOB Hamburg and were seen to be hovering around $1211/ton-$1294/ton. Deficiency of raw material Benzene and Ethylene hampered the Styrene market in Saudi Arabia , which is the major exporter of Styrene to the International market, had also revised its price to $1240/ton FOB Dammam. Polystyrene interest then again apparently to be on the peak with expansion in its utilization in automobile and ...

The Styrene Monomer prices in the Asian markets dropped on Thursday due to weaker upstream energy rates and bearish regional buying sentiment. The FOB South Korea prices were assessed at USD 1105 per tonne which showed a drop of USD 10 per tonne from Wednesday’s assessed levels. CFR China Styrene Prices quoted lower at USD 1125 per tonne showing a day on day drop of USD 10 per tonne. Moreover, upstream Benzene prices remained steady at USD 930 as per FOB South Korea levels. The prices are expected to maintain the downward trend as the upstream benzene prices are expected to remain steady for the upcoming week. The regional buying sentiment also appears to be stagnant. This can have a hit on the price levels and the prices are expected to drop by another 5%-10% in the upcoming last week of November. On the supply side the supply is also expected to ease in the month of November as the Zhejiang Petroleum and Chemical has already brought its 600 kilotons per year capacity plant online ...