HOUSTON (ICIS)--US styrene spot prices have firmed on the back of the recent uptick in feedstock benzene prices, trade sources said on Thursday. The increase in styrene spot prices also comes alongside tight supplies and recent production issues.
Current styrene spot prices were at 75.50-77.00 cents/lb ($1,664-1,698/tonne) FOB (free on board), up from 71.50-72.00 cents/lb FOB a week earlier. Prices hadn’t been above the 75 cent/lb mark since February of this year.
Most suppliers said they had been sold out of styrene for June, because of recent production issues.
Most recently, Shell Canada confirmed last week that its styrene plant in Alberta, Canada, would be off line for the remainder of June. The facility has a styrene capacity of 45,000 tonnes/year.
With shale gas dominating the headlines and ethane a major talking point in the petrochemical industry, ICIS editors in Houston are closely monitoring the situation. See the ICIS special report on shale, ethane and US ethane exports at https://www.youtube.com/watch?v=bYbKzYlYMGA.?xml:namespace>