- Brent futures contract gains $1.23/b- Northeast Asia observes as
China continues with Two Sessions meeting





The Asian styrene market ended higher due
to a stronger domestic China and upstream crude oil markets. The front-month ICE Brent contract rose
$1.23/b, to $83.93/mt at 0830 GMT. There was also an offer for a 2,000 or
3,000 mt cargo, at the seller's choice, for April delivery at $1,100-1,140/mt
CFR Jiangyin. The credit usage was Letter of Credit for 30
days. A bid was received at $1.070-2.100/mt after the Market on Close
assessment process. This was followed by several counter offers. Some are
optimistic as this is the first meeting since China lifted its COVID-19
restrictions. Sources believe the plenary session will provide
early signals for Two Sessions. Even demand forecasts are
weakening." The source stated that even demand forecasts
have slowed...