Asian SM prices rise on increasing benzene values, fortified downstream buying, restricted avails on reduced runs

Styrene Monomer prices are on the rise in Asia this week, crossing the 700 dollar mark. Several factors were responsible for taking offers to US$755/MT CFR China. These include increasing value of feedstock benzene, fortified buying interest from derivative markets of PS, ABS and EPS along with tight availabilities in the continent resulting from reduced run rates and plant shutdowns. Several producers are mulling the reversal of capacity reduction/shutdowns in a bid to meet recovering demand in the region.
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