Asian Styrene Prices Drop $78-83/MT on Week Due to Low
Demand in Asia- Northeast
Asia's producer plans to reduce operating costs to 60% in Sep- Sep/Oct
Backwardation steepens because of weaker expected demandSpot styrene monomer cargo talks were held
with buyers from Asia. Some producers also indicated their intention to reduce
operating rates for September. Due
to the backwardation structure of September/October and October/November,
Northeast Asia's demand was expected to remain weakened into September. According to a market source, spot discussions were low in
the markets. A recent deal in South Korea was heard at CFR China plus $30/mt. According to market sources, September's Styrene demand was
expected to drop. Sources in Korea also indicated that they plan to keep
operating rates at the current levels through September. According to a source, Taiwan Styrene Monomer Corporation...