06 October 2013 17:01 [Source: ICIS news]
BERLIN (ICIS)--While European styrene prices are edging down so far in October, several upcoming turnarounds in both the US and Asia could potentially keep domestic availability limited, market sources said on Sunday.
“There is a turnaround on styrene in the US for November and December which could keep exports from Europe,” said one consumer, speaking on the sidelines of the 47th annual European Petrochemical Association (EPCA) meeting. “We have seen US material arrive for October, but November could be a different story.”
With another European producer in turnaround in the fourth quarter, there is expectation that any downward movement on pricing could be mitigated by supply restrictions in Europe.
However, the Asian styrene market is also facing several turnarounds early in 2014, which could pull US material away from Europe.
But the consumer noted that any bullishness on European pricing would largely depend on how strong demand is in the first quarter next year.
“Styrene is usually slow to start the year,” the consumer added. “It will depend on how the weather and the construction industry is looking by March.”
The EPCA meeting runs from 5-9 October.
($1 = €0.74)
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