Styrene spot prices have spiked in Asia in last week. The reason has been due to news related to unexpected outages at styrene plant in the Mideast and in China thus Styrene supply is lower, although cost of benzene feedstock is weaker.
CIF India prices were assessed at the level of USD 1400/MT. Last week, CFR China prices were assessed in the range of USD 1290-1310/MTS lowered by USD 100/MTS and FOB Korea prices were assessed around USD 1240-1260/MTS again lowered by USD70/MTS.
Today the domestic prices of Styrene were reduced by Rs.5/Kg and were assessed around Rs.100/Kg for bulk quantity for Kandla and Mumbai port.
