An industry source in Asia on condition of anonymity informed a Polymerupdate team member, ” Prices firmed on the back of improved market sentiments coupled with tight material supplies from a major market like China. Meanwhile, market players expect supplies to be restrained in the short term in China due to planned maintenance works at a production facility.”
The source added, “The price rise was also supported by bullish benzene feedstock values.”
On Friday, FOB Korea SM prices were assessed at the USD 1060-1070/mt levels, week on week up by USD (+20/mt). CFR India SM prices were assessed at the USD 1115-1125/mt levels, an increase of USD (+25/mt) from last week.
Meanwhile, CFR China SM prices were assessed at the USD 1050-1060/mt levels, while CFR Japan SM prices were assessed at the USD 1050-1060/mt levels, both higher by USD (+25/mt)from the previous week.
CFR South East Asia SM prices were assessed at the USD 1085-1095/mt levels, a sharp week on week gain of USD (+30/mt).
Meanwhile, benzene feedstock prices on Friday were assessed at the USD 890-900/mt FOB Korea levels, a rise of USD (+25/mt) from the previous week.