Asian
Styrene: Increases due to talks of supply tightness-
To offset low demand, tighten supply-
Low activity in spite of bearish expectationsThe
session ended higher on Feb. 24, as Asian styrene monomer was concerned about
tightened Chinese supply. According to market sources, a major South China
plant would halt production due to repair works. This will further tighten
supply. This could not be confirmed. According to industry sources,
the ZRCC Lyondell plant turnaround likely began Feb. 24, according to industry
sources. Market sources in China also indicated that east China's inventory
continued to fall in the past week. This supports domestic market
prices. But, overall demand remains low. The benzene-SM spread is
still very narrow. Although it has increased in recent years, it still
leaves us with negative margins. A producer from South Korea stated that
it is...