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European, Asian PS markets face pressure from lower styrene

by ChemOrbis Editorial Team -
  • 23/02/2017 (04:03)
Spot styrene markets both in Asia and Europe started to retreat gradually after hitting their highest levels in more than 2 years, according to the data from ChemOrbis Price Wizard. Spot styrene prices on FOB Korea basis have steadily decreased by around $130/ton on the week. Asian players attributed this to the higher styrene inventories and weak downstream demand in China. Following suit, the spot styrene market in Europe also posted cumulative decreases of $90/ton on the week.

Accordingly, PS prices softened slightly in Asia and Europe in response to the lower styrene costs. On the other hand, most European players were talking about another round of three digit hikes on the styrene contracts in March, with the support from turnaround season and approaching high season in the construction sector.

A Southeast Asian producer reported, “Constant decreases in the styrene market might be stemming from slow demand and high inventories in China. However, global maintenance season should put the upward trend back on track in March.”

A converter from Malaysia, meanwhile, opined that recent softening in styrene prices is a healthy correction.

Players in both regions are expected to keep a close eye on upstream markets to have an idea regarding the March outlook.
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