Styrene Asia

摘要

Asian styrene monomer tumbled $30/mt day on day Friday to $1,457.50/mt FOB Korea and fell $25/mt over the same period to $1,487.50/mt CFR China. As a result, despite relatively stable prices for most of the week, the FOB Korea marker closed down $33/mt week on week and CFR China down $23.75/mt. Worries over the economies of Europe and the US weighed on market sentiment Friday after stock markets around the world suffered heavy losses towards the end of the week. In Asia Friday, the stock market in Tokyo tumbled 2.51%, hit by the double-whammy of global fears and the persistently strong yen, while Sydney shed 3.51% and Seoul plunged 6.22%. "The market is headed down for sure. US and Europe created this big mess initially in 2007 ... and ultimately Asia will get the whole world out of this mess, but it will take time, another three-four years I feel," one trader said. Energy was also affected with October ICE Brent crude falling $4.13/barrel day on day to $105.76/b in Asian trade.