Expectations for May styrene contracts voiced in Europe
Spot styrene prices on FOB NWE basis plunged by around $165-170/ton since the beginning of this month, declining to the lowest levels of five months, according to weekly average levels on ChemOrbis Price Wizard.
Source: ChemOrbis Price Wizard
A trader in Belgium concluded his April PS deals with declines up to €220/ton from March. “April has been a short month in terms of working days due to holidays; therefore activities are slow in the market. Lower levels can be found in the market while we are expecting declines of around €100/ton in styrene contract settlements for May,” said the trader.
A trader in the Netherlands and a manufacturer in Austria also reported that they are expecting the styrene contracts for May to be settled with $100/ton lower from April.
A food packaging manufacturer in Italy reported that they heard market expectations calling for declines of $70-100/ton for the styrene contracts for May, adding that they will continue to monitor the spot market to get a clearer idea regarding the market outlook. However, he also pointed out that May will be a full month in terms of working days and any improvement in demand may limit the potential declines in the downstream markets.
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