Asian Styrene: Troubles $27.50-33.50/mt, as the domestic
China market weakens- Discord
between adequate supply in India and China- Large
gap between buying and selling indicationsDue to a decline in Chinese domestic
prices, Asian spot styrene monomer prices fell from $27.50-33.50/mt to $1,150-1,180/mt
CFR China on July 29. China's
domestic prices fell Yuan420-470/mt over the day to Yuan 9,560-9,700/mt
ex-tank. This equates to $1,229.93-1,250.50/mt if you use import-parity
pricing. The H2 August delivery price dropped from Yuan 280-330/mt to Yuan 9,020-9,050/mt. After three days of gains, the active traded September
styrene options on the Dalian Commodity Exchange dropped Yuan 149-200/mt or
1.68% to settle at Yuan 8.728/mt ex–tank. Spot
SM discussions remained muted today amid a wide gap in selling and buying
indications. A source reported that there was not enough interest in spot
cargoes from...