28 April 2014
Leading global market intelligence provider, ICIS, has further enhanced its styrene (SM) market reporting in Asia to include details of confirmed deals (CFR China). The information is presented in a table broken down into half months. This new data is added in response to requests from market players in the region who already rely on ICIS styrene price reporting to inform their deal negotiations.
ICIS Asia styrene price quotes, especially CFR China, are commonly used as the benchmark in the region. Currently, high stock levels and weak downstream demand from the resins sector have meant that prices have been stable, however the impact of planned maintenance shutdowns is likely to result in some price movement as stocks diminish.
For market players negotiating deals in the mid-term, the new data from ICIS is vital. With access to reliable information on confirmed deals up to three months ahead, it is easier to conclude prices or plan for the mid-term with confidence.
Data covering three half months was first introduced into the Asia Pacific Styrene weekly report. This quickly proved popular and was soon extended to cover a further two half-months. Now the full five half-month price illustration is included in both the daily and weekly ICIS styrene coverage, giving both buyers and sellers visibility on prices for a period extending much further ahead than previously possible.
Clive Ong, Senior Editor Manager said, “By providing a breakdown into half-months for CFR prices, market players can refine their utilisation of ICIS prices; whether to use a particular half month or several half months in floating price deals, contract settlements, or marking positions to market etc.”
ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe,Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo, Perth. ICIS is a division of Reed Business Information, part of Reed Elsevier Plc.
About Reed Business Information
At Reed Business Information we provide information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of Reed Elsevier, a leading global provider of data, information and solutions for professional customers.
ICIS publishes daily and weekly reports for the Asian styrene market, covering the latest prices, market news and analysis. Whether you are a buyer, trader or seller, our pricing information gives you access to time-sensitive deals, offers/bids and price movements, as well as commentaries on the various factors influencing prices.
The reports cover all of the following:
To provide a holistic view of prices, a subscription to the report gives you access to historical pricing data and a table of confirmed deal prices (CFR China) for the next 3 months, broken down into half months.