- Expectations for higher supply- July/August structure steeper





Asian spot styrene monomer prices were down
$41-46/mt per day at $1180-1220/mt CFR China. The China domestic price was
lower by Yuan305-350/mt per day at Yuan 10,155-10,300/mt exp-tank. This equates
to $1,309-1,340/mt based on import-parity on July 14. The domestic China market saw spot discussions
tumble on July 14 due to the bearish outlook regarding the possibility of an
increase in supply following the restart of Yantai's plant. Spot
physical discussions were held at Yuan 9,650-9.740/mt H2 July delivery, Yuan
8,950-8.960/mt H2 August delivery, and Yuan 8,610-8.670/mt H2 September delivery. Due to the
relatively low July prices, the time gap between July and August was further
widened by Yuan 45-65/mt to Yuan 700-750/mt. Internationally,
offers were made at $1,160-1,180/mt CFR Zhenjiang for any August arrival window...