- China's domestic market turns to contango- More enquiries for cargo in Southeast Asia



The Asian styrene monomer market ended
March 2 higher in line with the domestic China markets and a stronger Yuan
against the dollar. FOB
Korea and CFR China markers were $10/mt higher than the previous day at
$1.120/mt and 1,110/mt respectively. Domestic
east China's market structure changed to minus 1/mt contango, from $1/mt
backwardation for March-April's intermonth spread. In recent weeks, the intermonth spread has been decreasing. Market sources indicated that the change in the structure
was likely to be sentiment-driven. A
trader suggested that it could be caused by sentiment-driven trading. According to market sources, demand for styrene monomer is
slowly increasing. However, supply-demand balances are not significantly
changing. A source stated that strong
demand expectations could be met by a weak...