BP Refinery Blast: Little change in US polystyrene markets

24 March 2005 19:07  [Source: ICIS news]

HOUSTON (CNI)--US polystyrene (PS) markets felt little or no immediate impact from Wednesday’s accident at BP’s Texas City, Texas refinery, industry sources confirmed Thursday.

 

Despite an increase in spot benzene prices into the $3.85-3.95/gal range for April, PS prices were reported holding steady on Thursday. Spot styrene values appeared largely unaffected by the accident, sources added.

 

Longer term, PS suppliers offered few indications that additional contract price increase proposals, beyond the 4-6 cent/pound hikes currently on the table, would likely emerge as a result of the marginal increase in feedstock prices.

 

Market participants said the effects of the BP accident on the overall PS supply situation were unclear and might not be known for 30-60 days.

By: Beth Daniel
+1 713 525 2653

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