- Support for SM prices with hopes of Middle East cargo tender- Upstream market firm





Markets remained firm on Nov. 14 at $5/mt
higher at $980/mt CFR China, and $975/mt FOB Korea. The styrene market
continues to show strength despite the COVID-19 limitations in China. Sources remain skeptical about the positive
economic power that could result from this. Another source
says that China's demand is still low. The spike in styrene prices stems
from the Middle East tender for a potential 30,000-40,000. mt Styrene
Monomer. Although the source didn't provide further details
on the matter, she said that the tender results from the Middle East for a
potentialb>30,000-40,000 mt of Styrene Monomer were not yet announced and
that markets were still firm. Spot ethylene prices were steady at
$880/mt CFR Northeast Asia. However, the benchmark benzene MOB Korea
marker was $9.50/mt lower on...