- Exporting demand remains muted- Production Resumption to Increase Domestic Supply



Asian spot styrene monomer prices were down
$15-20/mt at $1,312.5-1,330.25/mt CFR China marker. The China domestic price
was lower than Yuan 135-200/mt at Yuan 10,535-10,700/mt ex-tank. This equates
to $1,364.49-1,400.50/mt based on import-parity on July 5. Spot prices in China fell
during day trading. They were at Yuan 10,510-10.610/mt to prompt delivery, Yuan
10,270-10.290/mt H2 July delivery, and Yuan 10,010-10.020/mt H2 August delivery. Sources in the trade said that July spot delivery supplies
are still tight due to low inventory and strong domestic demand. To receive cargo on the importing market, traders might have
to pay a higher premium. The FOB China H2
July loading price is $1,390-$1,400/mt. However, there is still a lot of demand
from Europe and South Korea. Market
participants expect...