Styrene monomer prices remain steady in Asia

On Tuesday, despite a drop in crude values, SM prices were assessed stable in Asia, as per Polymerupdate.

An industry source in Asia informed a Polymerupdate team member, "Prices rolled over on the back of a subdued market momentum in the Asian region."

On Tuesday, FOB Korea SM prices were assessed at the USD 880-890/mt levels, unchanged from Monday.

CFR China SM prices were assessed at the USD 890-900/mt levels, stable from Monday's assessed levels.

Meanwhile, upstream benzene prices on Tuesday were assessed flat at the USD 730-740/mt FOB Korea levels.

In plant news, PetroChina Fushun Petrochemical has taken off stream its Styrene monomer (SM) plant on August 15, 2025 for maintenance. Further details on the duration of the shutdown could not be ascertained. Located in Fushun, China, the SM plant has a production capacity of 60,000 mt/year.

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Alexandre Elias has rejoined Braskem as CEO, Braskem America, after three years at Ineos Aromatics, where he served as North American business director from April 2022 to March 2025, as per Chemweek.

He took the position in March, succeeding Mark Nikolich, who left Braskem in late 2024.

Elias is additionally vice president/polypropylene (PP) at Braskem, and he leads the company’s UTEC business, which is focused on ultra-high molecular weight polyethylene. Elias has worked for over 20 years at Braskem, holding a variety of leadership roles in Brazil, the Netherlands and the US.
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TotalEnergies SA said its lubricants plant at Go Dau, Dong Nai Province, Vietnam, will use electricity from clean, renewable sources to cover 60% of its needs, as per Chemweek.

The project combines a 310kWp solar PV system with a 220kWh battery energy storage system (BESS), the company said in a statement Aug. 20.

The system is expected to generate approximately 460 MWh of electricity per year, eliminating around 300 metric tons of CO2 emissions each year, TotalEnergies said.

“The smart integration of battery storage, which optimizes solar energy utilization and enhances grid performance, ensures a more reliable and consistent power supply for the plant's operations – enabling better energy management, cost savings and improved operational efficiency,” the company said.

TotalEnergies wants to achieve net-zero emissions by 2050 and support its local entities to reduce their carbon footprint while enhancing energy resilience, said Astrid Dassonville, managing director and country chair at TotalEnergies Vietnam.

This is the first project of the 50/50 joint venture (JV) between TotalEnergies and Eneos Corp., in Vietnam. The TotalEnergies Eneos JV (Singapore) aims to develop onsite B2B solar distributed generation across Asia with a plan to develop 2 GW of decentralized solar capacity over the next five years, TotalEnergies said.

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The Chemical Business Association (CBA; Crewe, UK), which represents mainly distributors, has released results from its supply-chain survey for the second quarter, which shows that the sector remains under pressure, as per Chemweek.

The survey includes responses from chemical manufacturers, as well as transport and logistics companies from across the UK’s chemical supply chain, and distributors.

The second-quarter results indicate “cautious optimism” in some areas, with 31% of respondents specifying that their order books are improving, better than the figure of about 23% in the first quarter, the CBA said.

About 29% of respondents reported improved sales over the previous three months, a slight downturn from 32% in the first quarter. About 26% of companies predict increased sales in the coming months – 1 percentage point higher than in the first quarter – “suggesting relatively flat forward momentum,” the CBA said.

Margins remain under pressure, with 9% of respondents reporting improvements, and 60% indicating no change. Future margin expectations also show signs of decline, with almost 37% of respondents expecting profitability to worsen in the next three months, the CBA said. This is up 10% versus the same period last year.

Survey responses reaffirmed employment concerns. About 14% of respondents expect employment levels to increase over the coming months, up from 11% in the first quarter, and 20% expect employment levels to decline, “reflecting the pressures businesses are currently facing,” the CBA said.

In terms of logistics, 77% of companies reported an escalation in shipping costs. Disruption linked to the Red Sea/Suez shipping routes also continues to affect operations, now impacting 57% of respondents, up from 36% in the first quarter, the CBA said. However, UK road haulage issues appear to be easing, with 8% reporting difficulties versus 16% earlier in the year, it said.

Ongoing geopolitical uncertainty – including US/China trade tensions – adds to the list of headwinds, the CBA said. Brexit-related regulatory issues, particularly UK REACH, remain “the most persistent and disruptive concern,” it said.

“This quarter’s data reflects a sector showing resilience, but which is increasingly being worn down by policy delays and global instability,” said Tim Doggett, CEO of the CBA. “The growing number of businesses expecting to reduce staff is also troubling. Without strategic support, there is a real risk of losing the skilled workforce essential for the sector’s future. What is most striking, however, is the resounding message from our members about the impact of UK REACH. The proposed further extension of the UK REACH registration deadlines is deeply frustrating for our members and for the wider sector as these delays prolong uncertainty, hinder investment and continue to place unnecessary financial and operational burdens on businesses.”

The CBA said it is working to make the UK government aware of the impact of UK REACH, including on downstream users that were previously not in scope of the regulation. “The association has persistently lobbied the government on UK REACH’s operability and practicality, and the impact of duplicate testing and costs,” it said.
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Bayer AG said in a statement Aug. 18 that Monsanto has now reached agreements in principle to resolve all Sky Valley Education Center (SVEC) cases, representing more than 200 plaintiffs overall, except for the prior adverse verdicts that remain on appeal, as per Chemweek.

Bayer acquired Monsanto in 2018. The SVEC cases involve allegations of injuries due to exposure to polychlorinated biphenyls (PCBs) at the school campus in the state of Washington, the company said.

The terms of the agreements in principle are confidential and subject to approval of final settlement agreements by the parties, Bayer said, adding that the cost of the additional settlements is covered by the PCB litigation provision of €530 million taken in the second quarter.

This provision also covers the previously announced settlement of the Burke case as well as other PCB-related litigation costs, the company said.

“While the company remains confident in its legal strategy and defenses, and is fully prepared to defend cases at trial, it has maintained it will consider resolving cases on appropriate terms when it is strategically advantageous to help mitigate the risks and uncertainties of this litigation,” Bayer noted.

The company added that it continues to pursue a multi-pronged strategy to significantly contain the risks of this litigation by the end of 2026.

The adverse jury decisions in nine prior cases (49 plaintiffs) remain under appeal and are not included in the settlement agreements, Bayer said. “Each of these cases has its own unique factual and legal record, and all of these appeals raise additional questions of law that are not before the Washington State Supreme Court in Erickson, a case that is still pending,” Bayer added.

The company filed a complaint in Missouri to enforce its rights under indemnity contracts signed in 1972 by its largest, former electrical manufacturing customers, it said.

These former customers agreed to fully defend and indemnify Monsanto as a condition of continuing to receive bulk PCBs for use in their closed-end finished products, under these agreements, Bayer said.

PCBs are widely recognized as nonflammable safety fluids and were once specified by many electrical and building codes and insurance companies to protect against serious fire risk, Bayer said. In addition, their production was required by the federal government to protect the nation’s electrical grid, it said.

In 1972 the Interdepartmental Task Force on PCBs, comprised of eight federal agencies and sub-agencies, including EPA, found that continued manufacture and sale of PCBs for certain electrical applications was necessary. Monsanto voluntarily ceased all PCB production in 1977, Bayer added.

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