Expectations for May styrene contracts voiced in Europe
by ChemOrbis Editorial Team - content@chemorbis.com
In Europe, players have started to express their expectations for the monthly styrene settlements, which are mostly indicating a renewed three digit decrease, after the styrene April contracts which were settled $275/ton lower, amidst the declining spot styrene prices in the region.
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.
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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.
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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