- Downstream sees lower demand- India's demand is covered by the Middle East and
Southeast Asia supply



The Asian styrene markets continued to
fall, in line with falling domestic China. However, downstream restocking
appetite was thin due to a lack of demand outlook and bearish sentiment. The CFR China marker fell
$16/mt to $907/mt over the day, in line with the decline in domestic styrene
and feedstock benzene prices. In thin
liquidity, Asian benzene dropped $10/mt to $785.67/mt while east China prompt
styrene marked fell Yuan 175/mt daily to Yuan 7,945/mt ex-tank. This equates to
$951.14-$966.28/mt import-parity. Many
market participants expressed concern about the outlook for the market in the
first quarter 2023. Downstream polystyrene
and acrylonitrile-butadiene-styrene plants have slashed output in response to
sluggish end-user demand, sources said, with further run cuts expected,...