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Updated to Q1 2017
European ethylbenzene prices moved up in January until mid-February along with the upward momentum seen in the European styrene and benzene spot markets.
The European styrene barge contract recorded three significant and consecutive increases in the first quarter, mainly driven by supply problems in the US market. In the meantime, spot prices spiked to a record high in euro terms in February. Spot prices started to decrease towards the end of February and the downward trend continued until mid-March.
After two large increases at the beginning of the year, the European benzene contract price fell in March, and there was also relief in the spot market.
Demand for benzene was flat, but the situation could change once the second quarter begins when the US styrene units that are currently on shutdown are expected to come back on line.
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ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
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