PODCAST: Asia benzene lifted by higher oil prices, pre-holiday restocking

Damini Dabholkar

31-Jan-2024

SINGAPORE (ICIS)–Asia’s benzene prices trended upwards because of crude gains as well some pre-Lunar New Year restocking. Downstream styrene (SM) producers however, struggled with higher costs and low demand from sectors such as polystyrene (PS), expandable polystyrene (EPS) and acrylonitrile-butadiene-styrene (ABS).

In this chemical podcast, ICIS editors Angeline Soh and Luffy Wu discuss recent market conditions with an outlook ahead in Asia.

  • Benzene Feb cargoes sold out from pre-LNY stocking up, US demand as plants shut from winter storm
  • Demand for March cargoes buoyed; buyers beyond Asia worried about tightened supply with upcoming derivative additions in China
  • Asian styrene market players struggling with high costs but low demand
  • Regional styrene exporters eyeing long-haul opportunities to Europe
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