03 July 2012 04:46 [Source: ICIS news]
SINGAPORE (ICIS)--Spot styrene monomer (SM) prices in Asia are holding on to gains this week, supported by tightening regional supply, market players said on Tuesday.
Offers for July and August parcels were cited at around $1,380/tonne (€1,090/tonne) CFR (cost and freight) ?xml:namespace>
In the week ended 29 June, SM prices were assessed at $1,290-1,340/tonne CFR China, up by $10-20/tonne from the previous week, according to ICIS.
An outage at Formosa Chemicals & Fibre Corp’s SM units in
“Supply in the region is snug while downstream resins demand is picking up,” said a Korean trader.
“The traditional manufacturing season in
While SM traders anticipate further strength in the price rally in the near term, some cautioned that buoyant prices will eventually attract deep-sea cargoes from the
“So far there is no talk of deep-sea cargoes yet, but it will be inevitable if prices rise further,” said a trader in
SM is a liquid chemical used to make plastic resins, like ABS, PS and EPS as well as synthetic rubbers like styrene-butadiene-rubber (SBR) and styrene-butadiene-latex (SBL)
($1 = €0.79)
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