Prices of styrene in Asia rose by more than USD50 per tonne over the past two days, completely changing the overall downward trend that began in early October, as market sentiment changed for the better, according to ICIS, citing market participants.

According to ICIS, styrene prices as of December 4 were about USD1,045 per ton, CFR China, while on November 30 they were at about USD982 per ton, CFR China.

Over the past two days, consumer activity has intensified in the styrene market due to positive news from the macroeconomic sector, namely, the cessation of further discussions of tariffs between the US and China and higher oil prices.

Strengthening the RMB against the US dollar has also contributed to the increase in interest in the purchase.

In addition, in January 2019, several manufacturers in northeast Asia and the Middle East will stop styrene production for repairs.

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

According to the ICIS-MRC price review, for the period January-September of the current year, imports of all types of PS to Russia decreased, except for acrylonitrile-butadiene-styrene (ABS). In September, imports of general purpose polystyrene (PSS / M) amounted to 0.91 thousand tons against 1.82 thousand tons a month earlier and 1.70 thousand tons in September last year. In the first nine months, deliveries of PSS / M from abroad in the Russian Federation decreased by 26% to 14.39 thousand tons against 19.34 thousand tons for the same period last year. In September, imports of high impact polystyrene (UPS / M) totaled 0.95 thousand tons against 2.61 thousand tons a month earlier and 2.04 thousand tons in September last year. In the first nine months, imports of UPS / M decreased by 14% to 15.29 thousand tons against 17.70 thousand tons for the same period last year.