European PS, ABS markets cool off on bearish June expectations
Still, small discounts failed to stir buying appetite among buyers, who stick to the sidelines to see heftier decreases next month. June butadiene contacts already settled down €60/ton from May.
Meanwhile, styrene contracts are expected to settle with €100-150/ton decreases on the back of spot declines.
Players believe that demand may improve following steep decreases in the styrene contracts. “As buyers have been running down their existing stocks that were secured at lower prices, 3 digit drops are likely to lure them back to the market,” said a player.
A converter admitted that he is mulling over building stocks in June on the condition that styrene contracts settle with 3-digit drops for June.
On a side note, a few producers in the region voiced their intention to apply smaller decreases than that of styrene.
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