30 May 2013 22:12 [Source: ICIS news]
HOUSTON (ICIS)--US styrene spot trading has come to a standstill during the week on the back of a closed arbitrage, tight supply and recent weakness in the feedstock benzene market, according to trade participants on Thursday.
There were no fresh trades heard this week, with current styrene spot prices were at 73.00-73.50 cents/lb ($1,609-1,620/tonne, €1,239-1,247) FOB (free on board).
The spot prices were up from slightly from 71-72 cents/lb FOB on 1 May.
US exports to Europe and Asia have been thin this week, with no fixed barge shipments heard.
The styrene market has been globally tight because of recent turnarounds in Europe, Asia and the US.
All North American styrene producers were said to be operating at full rates following the recent turnaround at LyondellBasell’s Channelview facility near Houston.
The US feedstock benzene market this week has also come down slightly during the week.
Prompt June benzene spot prices were currently at $4.34-4.38/gal FOB, down from the May benzene contract price of $4.47/gal.
($1 = €0.77)
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