SM prices recoil in Asia after a marginal surge

10-Nov-08

As feedstock benzene price pressures continue and end user demand from China continues to deteriorate, Styrene Monomer producers announced plant shutdowns earlier this week. Changzhou Do How Chemical and Jiangsu Shuangliang Lishide Chemical Co shut SM plants in China. This led to a marginal surge in prices that eventually simmered down to US$560-595/MT CFR China, as demand from Chinese processors was almost absent. Despite falling prices, sellers were conspicuous by their absence.