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English
Views: 0 Author: Site Editor Publish Time: 2022-12-15 Origin: Site
Styrene International News:
A Brief Analysis of Asian Markets on Wednesday
Styrene: The closing price of the Asian styrene market remained stable on December 14, at US$1,008/ton FOB South Korea and US$1,008/ton CFR China. China's domestic spot index fell by 20 yuan/ton to 8305 yuan/ton (excluding tanks), which is about 1033.74 US dollars/ton based on import parity.
2023 Korean term contract negotiations remain difficult, with a gap of up to $20/mt between buyers and sellers, similar to earlier reports on 2023 contracts, which are particularly difficult to resolve this year.
In addition, South Korean buyers of styrene have not yet considered supplying from China due to the unusually strong freight market recently, although the market expects substantial capacity additions in China in 2023.
On December 14, the freight rate for 2,000-3,000 metric tons of parcels on the Korea-East China route was last assessed at $43/metric ton.
Upstream: Asian ethylene closed up $5 at $895/ton CFR Northeast Asia, pure benzene FOB South Korea closed up $6 at $772.33/ton, while ICE Brent February 2023 futures contract closed at $80.54/barrel, It was up $1.33 per barrel on the day. East China market closed up 15-20 yuan to 6470-6495 yuan / ton.
