CFR China styrene
monomer prices went up $7/mt on daily to day while noticed $36/mt week on
week to $1,345/mt Friday( as on 27/01/2017),strong demand noticed in regions
for March cargoes. Feedstock benzene FOB Korea prices noticed higher at $60/mt
from last Friday to $978/mt. Meanwhile, feedstock
ethylene CFR Northeast Asia increased $60/mt week on week to $1,170/mt.
Prompt domestic East China styrene
monomer price hiked by Yuan 100/mt day on day to Yuan 10,710/mt, or
$1,294/mt on import parity basis. February local styrene monomer prices also hiked by Yuan 200/mt day on day to Yuan
10,760/mt, or $1,300/mt on import parity basis. East China inventory level
increased 42% week on week but is still considered tight at 64,100 mt, as
estimated Wednesday this week. Downstream, acrylonitrile-butadiene-styrene
increased $20/mt week on week to be evaluated at $1,850/mt CFR China Wednesday
on the back of higher feedstock costs.
Butadiene prices remained at a 57-month
high in second week running, as spot February cargoes were sold off towards the
end of the week. A Taiwanese producer sold two spot cargoes of butadiene for
February loading at $3,000/mt FOB. In India, styrene monomer prices have also increased week on week, as
downsteam EPS and PS demand went higher these days, a market player said.
“Market players and traders are generally expecting prices to go up. Speculative
buying is strong at the moment due to regular off takes from buyers,”source
said.
In plant news, Thai SM producer IRPC expected to shut its 260,000 mt/year SM plant located in Rayong February 1 for maintenance, a company source said on Friday. The plant is expected to restart on 15th March, the source said. Styrene monomer prices on a CFR Southeast Asia basis are expected to be supported in the first quarter, now days supply is tight on the due to turnarounds in the region that are scheduled to begin next month.
Bids and Offer: The Styrene monomer price marker in Asia rose $7/mt day on day and $36/mt week on week to be assessed at $1,345/mt CFR China. During Market Close assessment process, there was a March bid at $1,352/mt CFR China Asia origin, which normalizes to $1,348/mt CFR China open origin. Hence, H1 and H2 March laycans were calculated at $1,351/mt CFR China Friday. H2 February was heard at $1,339/mt CFR China Friday.
For Daily chemical report ,kindly call or Whatsapp at- 9599622045.
In plant news, Thai SM producer IRPC expected to shut its 260,000 mt/year SM plant located in Rayong February 1 for maintenance, a company source said on Friday. The plant is expected to restart on 15th March, the source said. Styrene monomer prices on a CFR Southeast Asia basis are expected to be supported in the first quarter, now days supply is tight on the due to turnarounds in the region that are scheduled to begin next month.
Bids and Offer: The Styrene monomer price marker in Asia rose $7/mt day on day and $36/mt week on week to be assessed at $1,345/mt CFR China. During Market Close assessment process, there was a March bid at $1,352/mt CFR China Asia origin, which normalizes to $1,348/mt CFR China open origin. Hence, H1 and H2 March laycans were calculated at $1,351/mt CFR China Friday. H2 February was heard at $1,339/mt CFR China Friday.
For Daily chemical report ,kindly call or Whatsapp at- 9599622045.
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