- CFR China rises because of bullishness- South Korean producers supply only contracted volumes



Asian styrene monmer rose $15/mt to
$1,124.50/mt CFR China, and $1,114.50/mt FBO Korea February 21. Market sources in China have reported that
downstream plants are operating at higher rates. Sources estimate
that the average run rate for expandable polystyrene has increased by around 5%. Crude oil
has also risen. As of 0830 GMT February 21, the ICE April Brent
futures contract was slightly higher at $83.74/b. Another
source claimed that the sentiment could be bullish ahead to the annual Two
Sessions meetings where China's top political bodies will announce policy
changes. Beijing will host the first event since January,
when it removed COVID-19 restrictions. A source
claimed that the strength of the domestic China market may be largely sentiment
driven. "Currently, in China, market...