FEEDSTOCK - STYRENE MONOMER

Styrene Monomer prices stagnated in Asia at US$1375/MT in the week of October 29, 2007. Supply remains abundant, while downstream demand continues on a subdued note, widening the gap between supply and demand. This has caused a downward adjustment in prices despite robust international crude oil prices and healthy SM demand in certain pockets of Asia. Feedstock benzene prices dipped marginally to US$1050/MT despite bullish crude oil and naphtha market.