US spot styrene hits yearly lows on recent weakness in feedstocks
Brian Balboa
20-Nov-2014
HOUSTON
(ICIS)–The recent declines and yearly lows in the benzene
market has led the downstream styrene market to establish
yearly lows this week, based on price discussions on
Thursday.
US styrene spot prices were at 57.00-57.25 cents/lb ($1,257-1,262/tonne) FOB (free on board), down from November business heard between two producers earlier in the week at 59 cents/lb.
The spot trading and discussions this week took prices below the 60 cent/lb mark for the first time since December 2011, following lower feedstock benzene cost.
Benzene spot prices hit yearly lows this month on the back of weak demand, ample supply, declining energy futures and lower gasoline blend values.
The drop in styrene spot prices also comes alongside reduced production rates for most US suppliers, which has come on the back of weak demand from overseas.
Styrolution is currently working on a restart of its Bayport styrene plant in Texas, while other producers have not issued any status updates regarding styrene operations
|
Company |
Location |
Capacity |
Status |
|
Styrolution |
Bayport, Texas |
770,000 tonnes/year |
On planned maintenance. Restart planned for early November. |
|
Westlake |
Lake Charles, Louisiana |
259,000 tonnes/year |
Down. Expected back up as ethylene market conditions ease. |
|
Americas Styrenics |
St James, Louisiana |
950,000 tonnes/year |
On force majeure until further notice. |
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