Upcoming shutdowns keep global styrene outlook firm for H1
In Asia, after six consecutive weeks of increases, spot styrene prices posted a weekly reduction over the past week. However, spot prices on an FOB South Korea basis are still $330/ton higher when compared to the start of the year.
Spot styrene prices in the US, meanwhile, maintained their bullish trend for another week, surging by around $100/ton (4.55 cents/lb) on a weekly basis at the end of last week.
In the US, Styrolution is planning to shut its styrene plant in Texas for maintenance at the end of February. The 450,000 tons/year plant is expected to remain offline for six weeks.
Cosmar, a joint venture between Sabic and Total, is also reported to be having some technical issues at its two plants in Louisiana for the moment. The producer is expected to run its plants at lower rates during the summer months. Each plant has a styrene production capacity of 575,000 tons/year.
Meanwhile, Americas Styrenics is reported to delay the restart dates of its two styrene plants from February 3 to mid-March. The producer’s plants have production capacities of 499,000 tons/year and 454,000 tons/year.
When it comes to Asia, South Korea’s LG Chemical is planning to shut its 200,000 tons/year styrene plant in Yeosu for maintenance in March. The shutdown is expected to last for 20 days.
In Japan, Nippon Steel’s 240,000 tons/year styrene plant is expected to be shut at the end of February for 20 days. The producer is also planning to shut its 190,000 tons/year styrene plant for maintenance at the end of March for 20 days.
Another Japanese producer, Idemitsu Kosan, is planning to shut its styrene plant in Chiba for maintenance at the beginning of March. The 210,000 tons/year styrene plant is expected to remain shut for one month.
Two Taiwanese producers are also planning to shut their styrene plants in February. Grand Pacific is expected to shut its 130,000 tons/year styrene plant in Ta Sheh for one month while TSMC will conduct a maintenance shutdown at its 160,000 tons/year and 180,000 tons/year styrene plants in Linyuan for 15 days.
In Thailand, Siam Styrene is planning to shut its 300,000 tons/year styrene plant for maintenance in February. The plant is expected to remain offline for one month.
Meanwhile, players reported that Chevron Philips is also planning to conduct a maintenance shutdown at its 777,000 tons/year styrene plant in Al-Jubail, Saudi Arabia for 25 days, starting from May.
In Europe, Trinseo is also planning to undergo a maintenance shutdown at its styrene unit in Terneuzen, the Netherlands as of mid-February for around a month.
To track the most updated styrene production news, please see PS Production News
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