Asian styrene monmer: Rises after China relaxes some
COVID-19 restrictions- The overnight dollar also
falls- The following sources cite a Middle Eastern requirementThe Asian styrene industry was boosted by
the prospect of China lifting COVID restrictions. The domestic east China
ex-tank market for styrene soared to Yuan 400-440/mt. On an import-parity basis
the prompt was Yuan 8,435/mt or $1,017.74/mt. According to local media reports, Chinese health authorities
have relaxed some COVID-19 restrictions by shortening quarantine times and
eliminating a penalty for airlines that bring infected passengers. Overnight, the dollar fell as the US consumer price index
(issued monthly by the Bureau of Labor Statistics) rose to 7.7% in October.
This was below analysts' expectations of an increase of 8%. Buyers of feedstocks who pay in greenback favor a weaker
dollar. Some sources claim that a buyer...