Prices of styrene in Asia this week rose to a two-month high on a background of limited supply and stable demand, ICIS reports with reference to market participants.

The cost of styrene on Wednesday, May 2, increased by USD22.5 per tonne to USD1,402 per ton, breaking the level of USD1,400 per ton.

The last time the price level was higher than March 5, when it was USD1,415 per tonne, CFR China, according to ICIS. Styrene supplies in China were limited due to the numerous planned repairs planned for the second quarter of this year.

Styrene monomer stocks in the eastern region of China fell by 16.33% or 17.9 thousand tons this week compared to the level of a week ago amid a reduction in the receipt of imports of material to the country’s ports, ICIS said on Wednesday.

So, the total stocks of the material in the region are now at the level of 91.7 thousand tons against 109.6 thousand tons last week.

Styrene is the main raw material component for the production of polystyrene (PS).

According to the ScanPlast of the Market Report company, in February this year the total estimated consumption of polystyrene and styrene plastics in Russia in comparison with February 2017 decreased by 2% and amounted to 39 thousand tons. For the first two months of the year, estimated consumption by 8% exceeded the indicator of 2017 and amounted to 84.64 thousand tons.