Early March saw rising geopolitical tensions in the Middle East significantly impact the global petrochemical sector. Crude oil prices surged above $xxx per barrel, sharply increasing production costs across the petrochemical chain and providing strong cost support to the styrene copolymer market.
Feedstock styrene prices remained elevated during the month as upstream crude oil volatility continued. Rising feedstock costs substantially increased manufacturing expenses for styrene copolymer producers, forcing suppliers to maintain firm offers.
The Iran war further intensified global logistics disruptions. Shipping through the Strait of Hormuz faced operational challenges, leading to higher freight charges, elevated marine insurance premiums, and extended delivery timelines.
Supply conditions tightened further as refinery and petrochemical operating rates were affected by upstream disruptions and infrastructure-related constraints. Producers prioritized contractual commitments and export volumes, limiting spot availability of styrene copolymer in the domestic market.
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