- A more stable July-August structure in
China-
Widening the gap between international market bid-offer and domestic market
prices





Spot styrene monomer prices in
Asia fell from $12.5-17.5/mt to $1,177.5-1,200.5/mt CFR China on Jul 19, while the
Chinese domestic price was Yuan 225-275/mt higher on the same day at Yuan 9,695-9,750/mt
exp-tank. This is despite a bearish market outlook. Spot SM physical discussions in China's domestic
markets fell to Yuan 9,680-Yuan 9700/mt prompt delivery, Yuan 9.570-Yuan
9.640/mt second-half July delivery, and Yuan 9,120/Yuan 9,000150/mt H2 August
delivery. Yuan 8,900-Yuan 8.920/mt H2 September delivery. As the month
ended, the time difference between H2 July and prompt delivery narrowed to Yuan
130-180/mt to Yuan 120-150/mt. The H2 July-H2August delivery time spread
increased from Yuan 65-80/mt to Yuan 445-500/mt. Spot bid was
$1,180-1,200/mt H1 August delivery...