Styrene prices remain on downtrend across globe
In Europe, growing supplies in the midst of Covestro’s decision to lift force majeure on its styrene supplies from its 640,000 tons/year POSM unit in Maasvlakte, the Netherlands in late August have pushed spot styrene prices further down.
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In the US, market sources reported that spot styrene prices have remained under pressure from lower spot prices in Europe, maintaining their month-long softening.
In Asia, spot styrene prices have mostly remained on the soft side since mid-August, except for a week-long break. Price reductions across global styrene markets as well as the weak sentiment in China’s domestic spot styrene market were cited as main factors that weighed on the Asian market.
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