NewsFlashEuro styrene prices soar on BASF plant outage
03 January 2006 12:41 [Source: ICIS news]
LONDON (ICIS news)--Styrene spot prices rose by another $20/tonne in Europe on Tuesday following confirmation by BASF that its major styrene plant at Ludwigshafen, Germany was down and would be out of commission for several weeks.
Rumours about the outage had been circulating in the market since 29 December, and contributed to a $40-50/tonne hike in styrene spot prices on 28-29 December to $960-970/tonne free on board (FOB) Rotterdam.
Spot prices on Tuesday increased by another $20 to $980-990/tonne FOB, when BASF confirmed that the outage would extend "for a few weeks".
The 510,000 tonne/year styrene plant went down on Friday (23 December), and has been down completely since then.
BASF added that the outage affected only the styrene plant, one of BASF's three European sites, and not the related ethyl benzene (EB) unit.
The outage is estimated to have cost BASF around 40,000 tonne of lost styrene production, and it has been buying spot material to cover the shortfall.By: Barbara Ortner+44 20 8652 3214
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.