10 March 2006 12:10 [Source: ICIS news]
LONDON (ICIS news)--European styrene spot prices are under downward pressure due to poor demand globally and high inventory levels, affecting margins, producers and consumers said on Friday.
Styrene spot price assessments dropped to their lowest level since ?xml:namespace>
The lowest spot deal in 2006 was recorded on Thursday at $974/tonne FOB
Sentiment is pessimistic across the styrene market, producers and consumers said.
"Demand is currently viewed as acceptable but not exceptional in
News that BASF’s 510,000 tonne/year plant in
The European styrene market was already viewed as long by most participants and demand from the main derivative polystyrene (PS) was considered particularly weak. A number of European styrene producers are running at reduced rates because of poor economics.
One large producer said that for the first time in many years styrene margins were in negative territory due to record high energy costs and expensive ethylene.
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