Sinochem Xinhua News reported that due to the rebound in crude oil prices and the high price of pure benzene, the spot styrene market in Asia has been firm in the past week. The price of goods in October was stable at US$1125/t FOB Korea, which was equivalent to the price of the previous week's transaction. At CFR China prices, the sales price of styrene delivered in October was US$1,150/tonne. Prices in the Chinese domestic market have risen by RMB 100/tonne ($15/tonne) to RMB9,150-9,200/tonne (excluding the value-added tax rate of $1,149 to 1,155/tonne). The Zhangjiagang depot price was due to inventory Supply is tight.
In Europe, the September settlement price for styrene contracts was 992-1033 EUR/t FD NWE, up 30-38 EUR/t from the previous month, and last month the contract price was 962-995 EUR/t. In the United States, the spot price of styrene rose further due to the significant increase in the contract price of benzene, plus the increase in demand in Mexico and South America. The initial transaction price of this week was $1108/ton FOB USG, which was $34/ton higher than the previous week.
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