EU styrene imports rise steeply in April 2013

18 July 2013 12:32  [Source: ICIS news]

LONDON (ICIS)--Styrene imports into the EU from the rest of the world rose steeply to 98,563 tonnes in April 2013 compared with 33,463 tonnes in the same month last year, according to data released by Eurostat on Thursday.

Styrene import and export data by Eurostat (units: tonnes)

Period

IMPORT

EXPORT

April 2012

33,463

11,780

April 2013

98,563

22,359

     

Volume difference in tonnes 

65,100

10,579

% change year on year

195%

90%


Exports during April 2013 also saw a year on year increase, rising 90%, but the volumes involved were relatively small compared with material that was flowing into the EU during the same month in 2012.

A spate of styrene shutdowns among several European producers that ranged from late March to May saw a surge in imports earlier this year, as players looked to cover any potential shortfall in material.

Styrene import and export data by Eurostat (units: tonnes)

Period

IMPORT

EXPORT

May 2012

26,998

13,458

May 2013

33,805

34,558

     

Volume difference in tonnes 

6,807

21,100

% change year on year

25%

157%


However, weak derivative demand kept styrenics activity muted during the first half of 2013, which led to some lengthening of supply during this period despite the various production outages.

This would explain the large rise in exports out of the EU for May 2013 at 34,558 tonnes, as players shipped material to Asia where prices were firmer.

There was also a year on year increase for imports into the EU in May 2013, but the volumes involved were relatively minor and not indicative of any emerging trend in the market.


By: Truong Mellor
+44 208 652 3214



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