- Styrene supply sufficient for Asia- ABS, PS short-term outlook bleak



Due to the lack of end-user demand in Asia,
styrene spot cargo discussions were slow. However, there was sufficient supply
to make it profitable for producers. Sources said there was a lack of buying interest from
downstream acrylonitrile-butadiene-styrene and polystyrene end-users and demand
was not expected to recover until at least end-2022. The operating rates of Asian styrene manufacturers were
expected to remain the same through September. In South Korea, the average operating rate was 70%-80% and
Unv1 was around 75%-80%. The majority of
price negotiations were conducted on a floating basis with Chinese producers
offering prices as high as FOB China and $30-$40/mt cargoes to South Korea. Because China's domestic prices were higher, ABS and PS
cargoes headed to China were less common. According...