Styrene Prices Rise Globally Amid Geopolitical Tensions and Tight Market Conditions

Global Price Trend Overview
Global styrene prices have been moving upward across major regions, supported by higher upstream costs, supply tightness, and escalating geopolitical risks. Asian, European, and Indian markets have all recorded firm gains since late December, signalling a broad-based recovery rather than a region-specific fluctuation.

As of mid-January 2026, styrene prices were assessed at:

• China: CFR $911 per metric ton
• Taiwan (China): CFR $933 per metric ton
• South Korea: FOB $902 per metric ton
• Southeast Asia: CFR $950 per metric ton
• Rotterdam: FOB $1,020 per metric ton
• United States Gulf: FOB 41.10 cents per pound

December 2025–January 2026 Price Movement in Asia
Asian styrene markets firmed toward the end of December, with prices registering a 9–10 per cent increase from December levels into January. The rise signalled the beginning of a stronger price trajectory, supported by improving supply demand fundamentals, tighter regional availability, and a gradual recovery in buying interest across Asia.

Indian Market: Strong Price Upswing
In India, styrene prices have increased sharply in line with global trends. Current domestic prices are assessed at ₹92 per kilogram in Jan 2026, up from ₹80 per kilogram in December 2025. This translates to an increase of approximately 15 per cent over the period.

The Indian market, which is largely import-dependent for styrene, has been directly impacted by rising international prices, higher freight costs, and a stronger upstream cost structure.

Geopolitical Influence and Cost-Side Pressure
Geopolitical developments have played a critical role in driving recent price increases. The deteriorating situation in the Middle East has heightened concerns over energy supply security, pushing crude oil prices higher. This has had a cascading effect on petrochemical feedstocks.

Benzene, the key raw material for styrene, recorded a significant price increase last week. Elevated crude oil values, coupled with stronger demand from styrene producers benefiting from rising styrene prices, led to a firm benzene market. Higher benzene costs directly increased styrene production expenses, reinforcing the upward momentum in styrene prices.

Supply Demand Balance and Market Condition

End-Use Industries Supporting Demand
Styrene demand remains supported by a wide range of end-use industries, including:

• Packaging: Food containers, disposable cutlery, and protective packaging using polystyrene and expandable polystyrene
• Construction: Thermal insulation boards, panels, and lightweight building materials
• Consumer Appliances: Housings and components made from acrylonitrile butadiene styrene
• Automotive: Interior trims, dashboards, and structural plastic components
• Electronics: Casings for consumer electronics and electrical equipment

Downstream Correlation and Margin Pressure
While higher styrene prices improve producer margins, downstream processors are facing increased cost pressure. Resistance to high-priced raw materials has begun to emerge, particularly among price sensitive end users. Nevertheless, stable operating rates across major downstream industries indicate that demand destruction remains limited at current price levels.

Market Outlook
In the near term, styrene prices are expected to remain firm and consolidate at elevated levels. Although benzene prices may ease slightly, ongoing geopolitical uncertainties, crude oil volatility, and supply-side constraints are likely to keep the market supported.

Overall, the global styrene market remains strongly influenced by geopolitical developments, upstream cost dynamics, and balanced downstream demand, with price direction closely tied to energy markets and international trade flows.