Styrene prices soar in Asia

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The sharp rise in styrene prices in Asia

the increase in China's purchase interest and the continuous growth of interest in FOB South Korea have pushed the spot price to a peak, and the purchase and sale price of goods in the first half and second half of January reached $680~690/ton FOB South Korea. Moreover, the spot price in Asia is also strongly supported by the market price of styrene in the U.S. market, European market and Asian pure benzene. The selling quotation increased from 680-685 dollars/ton FOB Korea to 690 dollars/ton FOB Korea at the beginning of a typical mixed ownership enterprise. In the afternoon, it was heard that there was a deal in the second half of January at the price of 680 dollars/ton FOB Korea, and the price rose even higher. With the disappearance of the exact selling quotation, there is no news of further transactions. End users and traders are believed to be building inventories, as the styrene and downstream markets look set to show tension in the first quarter of 2003. Its output and price are between polar 1 and polar 2. With the support of strong transactions in January, the negotiated price of cargo in February has become more active due to the wide range of purchases from China with manual data processing function and purchase interest (USD/ton CFR). There is no exact selling quotation, because the seller is leaving the market to watch the market trend. China's interest in buying goods in the longer term, such as the market in February, seems to be supported by the strong price of spot goods. It is said that the transaction price of domestic transactions in China is 7, 800 yuan/ton. In the downstream market, the polystyrene market in Hong Kong rose. It is said that the transaction was concluded in US dollars/ton CNF Hong Kong, and the new selling quotation was said to have risen to US dollars/ton CNF Hong Kong

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