Asian
Styrene: Falls as upstream benzene market-weakens- Backwardation
steepens, crude oil falls $2.44/b- Hanwha
Total to restart cracker and SM units June 12Asian
styrene prices fell May 12 as the upstream benzene market-weakened.-Producers
were slightly more hopeful in the week ended May-12 as the spread between the
benzene and styrene CFR China-markers widened. That provided some relief
to producer, which-have seen margins weaken recently. The spread stood at
$145/mt-on May 12, a level which some deem as unprofitable.-"Producers
need at least a $160/mt spread to be profitable,"-said a producer in South
Korea.-The intermonth spread between the May and June laycans-for the CFR China
marker widened to $9/mt, while the spread-between the June and July laycans
widened to $10/mt, mirroring-a steeper backwardation in the east China domestic
market.-In India, demand and domestic prices had picked...