Prices of styrene in Asia fell below USD1,000 per ton, CFR China against the background of sufficient supply for December and January deliveries, although demand from the consumption side is stable, ICIS reports, citing market participants.

The price proposals for January were at the level of USD990-1,000 per tonne, CFR China, while the December negotiations have not yet ended, since few importers have sought to purchase goods.

Earlier it was reported that styrene prices in Asia declined last week amid a decline in consumer activity and general cautious market sentiment. Market players expect lower prices in the future and fear adequate supply. On December 7, styrene prices in China amounted to USD1,015-1,025 per tonne, CFR China.

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

According to the ICIS-MRC Price Review, Russian PS manufacturers lowered prices for December volumes by 4,000–5,000 rubles. per ton.