Asian Styrene Jumps $52-57/mt On Week; China's Domestic
Supply Tight■ China's styrene supplies are tightening due to lower
operating costs■ Indian buyers are more likely to buy US cargoesAsian spot styrene monomer prices were
higher by $4-5/mt or $52-57/mt per week at $1,084-1,100/mt CFR China, Aug. 26. Spot cargo discussions
were held in Northeast Asia, with buyers interested from China because of tight
domestic supply. China's domestic prices
were also higher than expected at Yuan 15-30/mt, and Yuan 8,950-9,500/mt
exp-tank. This equates to $1,133.82-1,150.50/mt based on import-parity on
August 26. The active traded Oct 2022
Styrene futures on Dalian Commodity Exchange closed higher at Yuan 8193-9000/mt
(0.36%) Sources in China have indicated
that September styrene supplies were tightened due to low operating rates. One buyer stated that sellers preferred floating prices over
fixed prices and were not...