Styrene Monomer prices have spiked to US$1330/MT in line with rising crude oil and benzene prices. Upstream benzene in Asia for February witnessed a price spurt to US$1025/MT FOB Korea. In fact, styrene prices for March delivery were heard past US$1330. An outage Sinopec Group Maoming Petrochemical's SM plant, along with restricted supplies on account of plant trouble at China National Offshore Oil Co and Shell Petrochemicals Company Limited (CSPC) plant have pressured prices.
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