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Styrene Prices Updates In First Quarter Of 2017
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Recent drop in Europe styrene spot might be start of cooling down phase; After five consecutive raises of the barge agreement from November 2016 to the present month, the European styrene marketplace witnessed place prices softening this week in tandem with some losses in the Asian market, on Friday players said.
The marketplace had experienced an identical scenario in 2015 when there is a rise of the barge contract in December and an astronomical hike in February.
However, for most players, in the downstream styrenics market mainly, the biggest problem is usually that prices never decrease as quickly because they go up.
Some resources had already expressed anticipations for lower spot ideals since the other day but were a little surprised that it just happened quite so soon.
“I was expecting European countries place prices to drop but, for me even, the lower came a bit quicker than I thought. Benzene can be shifting lower and I believe there is space for additional styrene decreases,” a purchaser said.
By afternoon Thursday, the March bid/present selection of European styrene place prices was seen at $1,410-1,470/tonne.
“It could not shock me if it moves even lower by Fri, “ the foundation added.
Most players are in a “wait-and-see” placement and buying interest isn't there for the moment, sources said.
“This could be the start of the trying to cool off phase; the market may be getting longer and maybe is searching for a new floor,” one of these said.
Following the February contract cost settlement, spot prices spiked from $1,440/tonne to $1,530/tonne and further up to $1,600.
“Place prices at the start of March, in euro conditions, will be the highest they possess ever been,” another styrene purchaser said.
Nevertheless, other players think that the drop in spot values is usually something temporary and the marketplace will soon rise again.
“There are major turnarounds approaching in Asia and they'll most likely impact about the global styrene market,” a PS producer said.
“The US marketplace is dried out as a bone; even if the styrene barge agreement drops next month, we anticipate prices to stay around current amounts for the next several months,” he added.
Europe EPS manufacturers mull lower result on pricey styrene, weak margins; The European expandable polystyrene (EPS) marketplace is bracing for possibly difficult February contract cost discussions as the feedstock styrene barge agreement recorded another three-digit boost for the month, on Friday sources said.
Predicated on indications from the European styrene place market, an upward motion was pretty much expected, however, not at this level, and which has created a whole lot of concern amongst EPS market participants.
According to EPS resources, margins are poor and styrene is costly, as the upward pressure upon pricing in Europe can persist for all of those other first quarter given many production issues in america styrene market.
Consequently, there was considerable market talk that EPS producers were considering of reducing production rates, while one of them was said to not be generating at all for February, although the key reason why remained unclear.
Meanwhile, some converters in Germany and Austria had been also thinking about reducing their production.
On the EPS prices front, suppliers are targeting increases of €200-260/tonne, while purchasers are waiting to get a much better market overview and define their targets because of this month.
It will be an extremely difficult task to spread the entire monomer increase however, many suppliers said that there is absolutely no other choice as profitability is low as the wintertime will not help demand.
Sources from the purchase side said that they can only purchase what they want and, simultaneously, make optimum utilization of stocks.
Nevertheless, others that didn't buy at almost all in January will be required to place their orders right now.
Resources said that in the building business it might be difficult to change from EPS to other components, but in other commercial sectors want packaging, for example, EPS competes with paper.
Although changing EPS for other products might not be easy, the high prices, along with the volatility on the market, are encouraging some marketplace participants to look towards additional alternative directions.
US place styrene prices leap as plant confirmed straight down; US place styrene prices jumped higher past due week on the news headlines a second Gulf Coastline styrene plant was down, market individuals said on Friday.
INEOS Styrolution's 450,000 tonne/12 months styrene plant in Texas Town, Texas, is down, and there is absolutely no restart date at the moment, an organization spokesman confirmed on Fri.
News surfaced on Wednesday that the Texas Town plant was having mechanical problems, nonetheless it was unclear that the plant was straight down until Friday. Complications at the plant began around fourteen days ago, a source on the market said.
Due to the plant issues, INEOS Styrolution found itself in the location market the other day as a buyer. Through the middle of the other day the maker purchased a complete of 10,000 tonnes of November styrene at that moment market.
Gulf Coast styrene place prices firmed on Fri as a second-fifty percent of December offer was heard to have already been carried out on Thursday at 48.98 cents/lb. The prior December deal on the market was done at 47.35 cents/lb on 28 October.
The offer done for the second-half of December further underscored the actual fact that November comes out, one marketplace participant said. Even 1st half of December item is difficult to acquire, the source added.
No differential was heard between November and December place prices.
THE UNITED STATES Gulf styrene marketplace had already tightened since a fire on 13 October at Westlake Chemical's 259,000 tonne/year styrene plant in Lake Charles, Louisiana. Market sources at first thought that the plant would be down for two weeks.
Westlake restarted the ethylbenzene unit this full week, and the styrene plant can be started next, market resources said on Friday.
One maker confirmed that it settled its October contracts in a loss of 1 cent/lb from September. However, no other agreement settlements were verified this week.
UNITED STATES styrene producers include Americas Styrenics, INEOS Styrolution, LyondellBasell Chemical, Pemex, Shell Chemical substances Canada, Total Petrochemicals and Westlake Styrene.
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