08 October 2012 13:04 [Source: ICIS news]
BUDAPEST (ICIS)--Volatility for European styrene pricing throughout 2012 has left end-users confused, a source from the distribution market said on Monday.
“We have seen spot numbers fall well below contract this year,” said the distributor, speaking on the sidelines of the 46th annual European Petrochemical Association (EPCA) meeting in Budapest, Hungary. “For buyers locked into contracts, it can get them very worried.”
However, the volatility seen for styrene spot pricing has meant that sourcing material on an ad-hoc basis can be even more problematic.
“The market has been crazy this year,” the distributor added. “We had styrene trading $100/tonne (€77/tonne) below benzene at one point, and then this was followed by a surge in pricing. It is impossible to predict.”
One trader said that it expects styrene prices to fall in October with the arrival of imports, but that the market would remain volatile and bullish on pricing in 2013, alongside high crude and benzene values.
The annual EPCA meeting runs from 6-10 October.
($1 = €0.77)
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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections