- China's H1/H2 Aug/H1 Sep backwardation flattens- Weak demand in Asia has slowed down
discussions



Asian spot styrene monomer prices rose $30-35/mt
to $1,177.50-1,200.50/mt CFR China. The China domestic price was lower Yuan 130-180/mt,
at Yuan 10,110-10,300/mt exp-tank. This equates to $1,284.46-1,300.50/mt based
on import-parity July 28. The
domestic market's prompt delivery prices were lower, falling from Yuan 130-180/mt
to Yuan 9,980-10,200/mt. The forward H2
August delivery price increased Yuan 230-280/mt to Yuan 9,300-9,500/mt or
$1,196.94-1,240.50/mt if you consider import-parity. The September styrene futures traded on the Dalian Commodity
Exchange rose Yuan 371/mt or 4.3% to settle at Yuan 8,991-9,300/mt exp-tank on
July 28. Spot negotiations remained muted
in China's export market due to a wide gap in selling and buying indications. A
source said that almost no interest was shown in buying spot cargoes...