In the China benzene market, sentiments are weak. As prices in the international market softened and it was also reported that derivative makers might shut down their facilities or they might decrease production, buying interest is weak. Meanwhile, supply in Northeast China is ample. Supply/demand is slack.

Going forward, production cuts and shutdown at derivative facilities are expected to continue for the time being since the international market is not bullish. But there are also views that supply might decrease and prices are unlikely to fall sharply.

In the market for styrene monomer (SM), a major derivative, prices are also bearish. Feedstock costs are falling but buying interest from derivative makers is scarce.

Buying interest for SM might remain weak going forward. On the other hand, supply is not ample since arriving volumes of imported cargoes are low and inventories at ports are being consumed. For this reason, SM prices might not change sharply, said market sources.