This week, SM prices plunged in Asia. The sharp price drop was mainly on account of bearish buying sentiments in key markets like China, weaker upstream benzene values and ample product availability.
FOB Korea SM prices were assessed at the USD 795-800/mt levels, while CFR China SM prices were assessed at the USD 815-820/mt levels, both tumbled by USD 50/mt from the previous week.
CFR South East Asia prices were at the USD 835-840/mt levels, a week on week slide of USD 65/mt from last week. CFR India SM prices were assessed at the USD 835-840/mt levels, a steep decline of USD 50/mt from the previous week.
Upstream benzene prices assessed lower at the USD 620-625/mt FOB Korea levels, a fall of USD 5/mt from the previous week.