Asian styrene monmer: Rises on the upstream strength- Wide
spread of bid-ask for Southeast Asia- India's
inventories remain highDue to a rise in the upstream market, Asian
styrene monomer was stronger at $1.090/mt CFR China on March 31. The CFR China marker
marked upstream benzene at $973.50/mt rose $5/mt. This places the spread of
benzene and styrene at $116.50/mt. China's
inventory is continuing to fall this week. In the week ending March 29, styrene monomer inventories
fell 13,000 mt in east China. As interest
in buying and selling spot cargoes was low, the week ended with little
activity. The benzenestyrene monomer is
still thin. Market participants view benzene as more bullish than styrene. A trader said that gasoline blending demand from domestic
and international demand is still present. A producer in Southeast Asia mentioned that buying
indications had been...