June styrene assessed $2-3/mt lower than

June styrene assessed $2-3/mt lower than benzene | Producers failing to cut run rates: trader

Jun 07, 2023

- June styrene assessed $2-3/mt lower than benzene- Producers failing to cut run
rates: trader

June styrene prices were assessed at a
negative to feedstock benzene on the day June 6, as the market was pressured by
weak demand from downstream applications. The June laycan was assessed at $899/mt FOB ARA,
$2/mt below the June benzene, which was assessed at $901/mt CIF ARA. "It's a
disaster for styrene monomer producers," a trader said. Weak
downstream demand from key styrenic outlets such as construction, packaging,
electrical appliances, and coatings has seen spot styrene margins under
significant pressure since the beginning of March 2023. Despite the
lack of demand, crackers continued to run and few cut backs were seen from both
propylene oxide and ethyl benzene route styrene producers, another trader said. High
interest rates were stalling...

Exclusive market movement data, shipping lineups, demand signals and pricing rationale continue in full report.

Unlock complete article access with a paid account.

Continue Reading With Membership

This is a preview. Login and activate a paid plan to read the complete article.

Latest Blogs