Expandable polystyrene (EPS) and polystyrene (PS)

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A versatile plastic used to make a wide variety of consumer products, expandable polystyrene (EPS) and polystyrene (PS) are integral in industries such as food packaging, appliances, construction, and some niche automotive applications for polystyrene, and for expandable polystyrene construction, white goods packaging, and fish boxes packaging. These industries and more are impacted every day by the dynamics of global and regional PS and EPS markets, as well as developments in the upstream styrene market.

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Expandable polystyrene (EPS) & polystyrene (PS) news

US Trinseo seeks to sell stake in AmSty

HOUSTON (ICIS)–Trinseo has started the process to sell its 50% stake in Americas Styrenics (AmSty), the US-based engineered materials producer said on Wednesday. AmSty makes styrene and polystyrene (PS). The company has initiated the ownership provision in the joint venture agreement. That provision includes a structured mechanism that will lead to the sale of Trinseo's stake in AmSty. "We have a clear pathway to divest our interest in the joint venture," said Frank Bozich, CEO. "We expect the exit process to lead to a definitive arrangement no later than early 2025." Trinseo did not name any prospective buyers or how much money it could make on the deal. Trinseo will spend the proceeds of the sale on paying down $1.077 billion in recently issued term loans. Those loans mature in 2028. Chevron Phillips Chemical owns the remaining stake in AmSty. Trinseo is also trying to sell its wholly owned styrenics assets, with a focus on marketing individual plants and regional businesses. Trinseo's other businesses include Latex Binders, Base Plastics and Engineered Materials. Thumbnail shows a cup made of polystyrene. Image by ICIS.

13-Mar-2024

Brazil’s Unigel halts fertilizers production on high natural gas prices

SAO PAULO (ICIS)–Unigel is to “temporarily stop” nitrogen fertilizers production because of high costs and low prices, effective on Wednesday, the Brazilian chemicals and fertilizers producer said. Unigel said natural gas prices in Brazil are one of the highest in the world, and six times higher than in the US or the Middle East, “despite efforts” by multiple stakeholders, including the government, to lower them. “Unigel suffered losses throughout 2023 and also in 2024, but it retained the majority of its staff in expectations that negotiations and work fronts seeking to reduce the price of natural gas would be successful,” said the company. “The company will continue to have a minimum infrastructure for maintenance and preservation of assets, in addition to ensuring compliance with legal and socio-environmental commitments.” Unigel’s move comes after it signed a tolling agreement with Petrobras in December for the functioning of two nitrogen fertilizers plants in the states of Sergipe and Bahia. The two plants were leased to Unigel by Petrobras in 2019. It also comes just weeks after Unigel’s creditors agreed to a debt restructuring of the company’s beleaguered financial metrics. The plant in Camacari, Bahia, can produce 475,000 tonnes/year of ammonia and 475,000 tonnes/year of urea. The plant in Laranjeirs Sergipe, can produce 650,000 tonnes/year of urea, 450,000 tonnes/year of ammonia and 320,000 tonnes/year of ammonium sulphate (AS). “[After leasing the plants in 2019] Unigel contributed to reducing the country's extreme dependence on the import of nitrogen fertilizers by approximately 15%, which is essential for agribusiness, today the most important sector of our economy, and directly impacts Brazilians' food security,” said Unigel. “Furthermore, Unigel is the only national producer of ARLA, an additive added to diesel engines to reduce the emission of polluting gases.” The company added that once the precedent conditions in the tolling contract have been met, it would be able to “reevaluate the resumption” of production. Unigel's chemicals divivions produces styrene and polystyrene (PS), among other materials. Front page picture source: Unigel

06-Mar-2024

Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 1 March. NEWS Mexico’s manufacturing returns to expansion on higher salesMexico’s manufacturing contraction in January was a blip, with output returning to growth in February as sales grew, analysts at S&P Global said on Friday. Brazil’s manufacturing at 20-month high on strong new orders book Brazil’s manufacturing PMI index continued expanding in February as firms increased their output to cater for a healthy new orders book, analysts at S&P Global said on Friday. MOVES: Brazil’s Unipar CFO resigns Unipar’s CFO Antonio Campos Rabello has handed in his resignation, effective 29 February, the Brazilian chemicals producer said late on Tuesday. Surging PET imports reflect Mexico's growing industrial appetiteMexico has seen a significant rise in PET imports since 2021, indicative of heightened demand for this versatile polymer across diverse sectors within the country's burgeoning economy. Persistent weak petchems, longer-than-expected spreads recovery to hit Braskem – S&P Brazil’s petrochemicals major Braskem’s profitability in 2024 will be hit by a delay in a recovery in spreads due to “persistent” weak markets, according to US credit rating agency S&P Global. Petrobras and ArcelorMittal mull joint low-carbon projects Brazilian state-owned energy major Petrobras and steel major ArcelorMittal have signed a memorandum of understanding (MoU) to jointly develop low-carbon projects. PRICING LatAm PE domestic prices up in Brazil, Colombia due to producers squeezed margins Domestic polyethylene (PE) prices were assessed higher in Brazil and Colombia on the back of squeezed margins from local producers. In other Latin American countries prices were steady this week. LatAm PP prices steady to higher due to increased feedstock costs, narrow margins Domestic polypropylene (PP) prices were assessed higher in Argentina, Brazil, Chile and Mexico on the back of higher feedstock costs and narrow margins. In Colombia prices were steady.

04-Mar-2024

Brazil GDP up 2.9% on agriculture, chems lead fall in manufacturing output

SAO PAULO (ICIS)–Brazil's chemical sector led a fall in manufacturing output in 2023, but the story was more positive for the rest of the economy which grew 2.9% compared with 2022, according to national statistics office IBGE. Despite the large annual increase, economists are warning that output sharply decelerated in the two final quarters of the year, which could pose a headwind in coming quarters. WEAK CHEMICAL SECTORIBGE’s final figures for manufacturing output in 2023 confirmed what Brazilian chemicals producers, who have been besieged by cheaper imports, have been complaining about for months through their trade group Abiquim. Industrial growth increased 1.6%, but much of this was due to the extractive industries which were up nearly 9% compared with 2022, with oil and gas both posting strong performances. However, manufacturing output – an industrial subgroup –  decreased 1.3% year on year in 2023, with chemicals and other key end markets seeing negative growth. “[The fall was] mainly caused by the drop in the manufacturing of chemical products, machines and equipment, metallurgy and the automotive industry,” said IBGE. Automotive is a key end market for chemicals. In addition, IBGE said output in the equally petrochemicals-intensive construction sector had fallen by 0.5% in 2023 year on year. However, many manufacturing companies will be hoping that a healthy performance at the beginning of 2024 can be sustained through the year. This was after the manufacturing PMI index entered expansion territory in January and February after 11 months of contraction. Brazil manufacturing January 2024 December 2023 November October September August July June May April March February PMI index 52.8 48.4 49.4 48.6 49.0 50.1 47.8 46.6 47.1 44.3 47.0 49.2 Source: S&P Global AGRICULTURE PROPS UP GROWTHOutput in the fertilizer-intensive agricultural sector rose by 15.1% year on year in 2023, lifted by record high harvests mostly in the first half of the year. Brazil's agricultural sector is very export-focused and the country is fast becoming one of the world’s  breadbaskets. The past two years – since Russia invaded Ukraine – has seen its position strengthen, with the war disrupting output from two key European producers. Agriculture now accounts for around a quarter of the country’s output, with the Brazilian climate allowing farmers to plant two harvest per year for several crops. “According to the Systematic Survey of Agricultural Production (LSPA/IBGE), several crops recorded production growth in the year 2023, with highlights being soybeans (27.1%) and corn (19.0%), which achieved record productions in the historic series,” said the statistics office. “On the other hand, some crops recorded a drop in the annual production estimate, such as, for example, wheat (-22.8%), oranges (-7.4%) and rice (-3.5%).” Output from Brazil's services sector rose by 2.4% in 2023 year on year compared with 2022. As a result, Brazilian output rose to Brazilian reais (R) 10.9 trillion ($2.19 trillion) in 2023, said IBGE, putting it among the world’s 10 largest economies. However, Brazil remains an emerging market. GDP per capita for the country's 215 million inhabitants is just over R50,000 ($10,130). For most, salaries remain low. Last year, the minimum wage was just above R1,300 ($260). GDP per capita is below some of its main Latin American peers. The economic performance of Brazil and Argentina are intertwined as they have strong bilateral ties and the two are often compared to each another. In 2023, GDP per capita in Argentina was well over Brazil's at $13,700, even though it has been in a long economic crisis. SLOWING TRENDBrazilian GDP of 2.9% in 2023 was in stark contrast to most forecasts from private and public bodies at the beginning of the year, when most expected it to grow by around 1%. Healthy harvests in the first half of the year propped up growth, but IBGE said quarterly growth in Q4 was flat with Q3, when it was already flat compared with the April-June quarter. The government of Luiz Inacio Lula da Silva, who took office in January 2023, was quick to highlight how the final GDP growth figure was far higher than its own expectations. However, the clear deceleration in second-half output has raised alarm bells among some, who said “it was clear” that much of the growth now celebrated by the government had taken place in H1, according to Jorge Jatoba, an economist quoted on financial news site Movimento Economico. “In the second half, the economy performed poorly. Q3 and Q4 had practically zero growth, compared to the previous quarter,” said Jatoba. “The general analysis of the year is good news – but not that much.” Focus article by Jonathan Lopez ($1 = R4.95)

04-Mar-2024

Brazil’s Unigel gets green light from creditors for debt restructuring

SAO PAULO (ICIS)–Unigel has agreed a Brazilian reais (R) 3.9 billion ($791 million) debt restructuring with its creditors, which has saved the beleaguered styrenics, acrylics and fertilizer producer from filing for bankruptcy for the time being. The agreement includes raising a new $100 million credit line that will mature in 2027, and give its shareholders “economic benefits corresponding” to 50% of the company, it said. An intention to improve the company’s governance structure is also included, although Unigel did not disclose further details. The restructuring will consist of the issuance of new debt securities and participatory securities in exchange for the cancellation of current debts. One-third of Unigel’s creditors, those with earlier maturities, have agreed to the deal and will apply for 90-day protection to finalize it, which has been made possible under Brazil's financial laws. “The plan will allow the improvement of the company's capital structure, with an increase in its liquidity and a significant reduction in leverage, in order to guarantee the continuity of the business plan that was severely impacted by the crisis in the global petrochemical industry,” said Unigel’s CEO, Roberto Noronha. CFO André Gaia said the new funds will be partly directed to finalizing projects such as Unigel's sulphuric acid plant at Camacari in the state of Bahia. Construction has been on hold since 2023 when the company's financial position deteriorated. The plant is 80% complete, and when fully operational it should produce around 450,000 tonnes/year. REVIVALUnigel’s fortunes took a turn for the worse in 2023 on the back of high input costs – especially at its natural gas-intensive fertilizer operations – poor demand and low prices. It has not published a financial report since Q1 2023, something contemplated under Brazilian financial law for companies under stress. After a poor Q1, Fitch and S&P both lowered the company’s credit ratings several times and put Unigel’s debt obligations at the lowest level to indicate a high probability of default. However, “intense negotiations” with creditors that began in October, after Unigel failed to pay a coupon on one of its bonds, appeared to bear fruit in November when it reversed its decision to shut down the Bahia fertilizers plant. For that to take place, Unigel’s talks with its creditors were accompanied by talks with the government and its appointees to lead the state-owned energy major Petrobras, which supplies natural gas to Unigel. President Luiz Inacio Lula da Silva has repeatedly said that Brazil needs a stronger fertilizer industry as is too dependent on imports to cover booming demand from its growing agricultural sector.  The sector has made Brazil one of the world’s breadbaskets and accounts for around a quarter of the country's output. Although details have not been made public, in December, the two companies agreed a tolling agreement for Unigel’s fertilizers plants in Camacari and Laranjeiras, in the state of Sergipe. The two plants were leased from Petrobras in 2019. Capacity at the Bahia plant is 475,000 tonnes/year for ammonia and 475,000 tonnes/year for urea. The Laranjeiras facility has a capacity of 650,000 tonnes/year of urea, 450,000 tonnes/year of ammonia, and 320,000 tonnes/year of ammonium sulphate (AS). The Petrobras-Unigel agreement in December came just weeks after Unigel charged Petrobras for its “unbearable natural gas prices” when it explained to workers at the Camacari plant about redundancies resulting from its closure. As part of the talks with its creditors, Unigel divested its Mexican subsidiary which produces acrylic sheet Plastiglas for an undisclosed amount in December. With an expected improvement in chemicals and fertilizers prices and a helping hand from Petrobras and/or the Brazilian government, Unigel may have managed to avoid a bankruptcy which many had taken for granted a few months ago. At the annual meeting of the Latin American Petrochemical and Chemical Association (APLA), held in Sao Paulo in November, one petrochemicals source foresaw this week’s events. “Unigel has been in financial trouble many times before, and it always got through them. This time looks bad, but it may yet again save the day,” the source said. Focus article by Jonathan Lopez Thumbnail shows Brazilian money. Image by RHJPhtotos.

21-Feb-2024

India’s Styrenix plans ABS, PS capacity expansions in Gujarat

MUMBAI (ICIS)–India’s Styrenix Performance Materials (SPM) expects to begin operations at its expanded acrylonitrile butadiene styrene (ABS) and polystyrene (PS) capacities at Dahej and Nandesari in the western Gujarat state before 2028, a company source said on Friday. SPM plans to invest Rs6.5bn ($78m) on the expansion projects. Its ABS capacity will grow to 210,000 tonnes/year over the next four years, from 85,000 tonnes/year currently; while its PS capacity will be raised to 150,000 tonnes/year over the next three years from the current 66,000 tonnes/year, based on the plan released in October 2023. Funding the brownfield expansions will be through a mix of internal accruals and debt, SPM said. “The expansion will be done in a phased manner and capacity will be increased gradually over the next few years,” the company source said. The expansion of production capacities will help SPM meet increasing domestic demand for ABS and PS, he sai. “We expect to see robust growth in in our existing markets like automobiles, household appliances, medical devices, electronics, [among others],” the source said. SPM is formerly known as INEOS Styrolution India. It was renamed in January 2023 after INEOS Styrolution sold its entire stake in the company to Shiva Performance Material in August 2022. ($1 = Rs83)

16-Feb-2024

Eurozone construction sees sharpest decline since mid-2020 in January

LONDON (ICIS)—The eurozone construction sector remained in contraction territory in January, with conditions chilling further during the month on the back of weak demand and declines across key markets, with little sign of recovery this year. Eurozone construction activity declines across all sub-sectors Germany sector falls to to record lows Little sign for substantial uptick this year The construction sector purchasing managers’ index (PMI) slumped to 41.3 in January compared to 43.6 in December as a sharp decline in new business drove the steepest decline in activity since May 2020. Demand in the bloc remained weak, according to data from S&P Global, with delivery times lengthening for the first time in nine months due to difficulty sourcing material amid ongoing logistics disruptions. Europe construction sector PMI January 2024 December 2023 Change Eurozone 41.3 43.6 -2.3 Germany 36.3 37.0 -0.7 Italy 55.2 51.6 -3.6 France 39.6 42.6 -3.0 UK 48.8 46.8 +2.0 The construction sector in Germany was hit by the country’s wider slowdown, with sector PMI dropping to 36.3 in January, one of the lowest readings since PMI data for the space was first gathered in 1999. A PMI reading of above 50.0 signifies growth. “Just when you think it cannot get any worse, it can. According to the PMI, the German construction sector is extending and deepening its downturn which has been in place since April 2022 for another month, with no near end in sight,” said Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, which helps to compile the eurozone PMI data. “For optimists, the set of PMI construction indicators may resemble a desert, offering limited signs of hope. While there is some solace in the reduced number of companies expecting output deterioration in the coming year, it's important to acknowledge that there were still three times as many pessimists as there were optimists,” he added. Activity in France’s construction sector declined to the lowest level in three years, pointing to a “steep and accelerated” decline in activity, S&P Global said. Activity in Italy fell sharply but remained on a positive footing, which respondents attributed to stimulus funding from the country’s National Recovery and Resilience Plan (NRRP), while players noting a decline in activity blamed the expiry of other stimulus measures. The eurozone as a whole saw declines across all key construction sectors, with the most substantial drag seen in house-building activity. Current indicators such as future deal flows point to conditions remaining depressed through the year, de la Rubia added. “There are limited signs that the construction sector has a chance to get off the ground any time soon. The most forward-looking indicator of new orders is hovering near the index level of 40 for almost one year, which means that the incoming number of fresh projects is continuously diminishing at a fast pace,” he said. The picture was slightly rosier in the UK, where construction PMI remained in contraction territory but firmer compared to December, with player optimism buoyed by the perception that demand may have bottomed out. “The prospect of looser financial conditions and an improving economic backdrop meant that business activity expectations strengthened to the highest for two years in January,” said S&P Global Market Intelligence economics director Tim Moore. “Moreover, there were again signs that customer demand is close to turning a corner as total new orders fell to the smallest extent for six months,” he added. Focus article by TomBRown. Thumbnail photo: A crane in front of the European Central Bank headquarters (source: Florian Gaul/imageBROKER/Shutterstock)

06-Feb-2024

Latin America stories: weekly summary

SAO PAULO (ICIS)–Here are some of the stories from ICIS Latin America for the week ended on 2 February. NEWSChile’s manufacturing output down 2.3% in December, central bank cuts rates 100 basis points Chile’s central bank interest rate cut this week by one percentage point to 7.25% may have been a welcome move by manufacturing companies, whose output fell 2.3% in December on the back of poor demand. Colombia manufacturing output booms in January on improved demand Manufacturing output in Colombia posted a strong recovery in January on the back of healthy new orders that prompted firms to expand production and employee count, S&P Global said this week. Mexico’s manufacturing output flirts with contraction in January Mexico’s manufacturing PMI index slipped back into contraction in January as overall output fell on downward pressure on new orders, business closures, unfavorable weather, and demand weakness, analysts at S&P Global said on Thursday. Brazil’s manufacturing output jumps in January to year-and-a-half high Brazilian manufacturing output jumped in January on the back of new orders which fuelled the largest expansion in production volumes since mid-2022, analysts at S&P Global said on Thursday. Colombia central bank cuts interest rates by quarter-point to 12.75% Colombia’s Banco de la Republica cut its benchmark interest rate by 25 basis points to 12.75% late on Wednesday. It was the second cut in interest rates since the central bank started to ease monetary policy in December. Brazil’s central bank cuts rates by 50 basis points to 11.25% The Banco Central do Brasil (BCB) on 31 January cut the main interest rate benchmark, the Selic, by half a percentage point to 11.25%. Mexico’s GDP up 3.1% in 2023, nearshoring fuels growth Mexico’s GDP grew 3.1% in 2023, year on year, confirming a resounding year for manufacturing on the back of nearshoring and services, which has fully recovered from the pandemic, the country’s statistical office Inegi said on Tuesday. Argentina’s peso devaluation too deep, too early while economy enters ‘profound recession’ – economist The new Argentinian government’s peso devaluation in December came too early and was too deep, not helping reduce the gap between the official peso rate the unofficial ‘blue dollar’ and probably fueling inflation further, according to the director at Buenos Aires-headquartered Fundacion Capital. PRICINGLatAm PE domestic prices rise in Brazil, Mexico on higher international prices, margin pressure Domestic polyethylene (PE) prices rose in Brazil and Mexico due to margin pressure and higher international prices. In other Latin American (LatAm) countries, prices were unchanged. LatAm PP prices higher in Brazil, Chile and Mexico on higher feedstock costs, margin pressure Domestic polypropylene (PP) prices increased in Brazil due to margin pressure. Prices in Chile and Mexico rose, pushed mainly by feedstock costs. In other Latin American (LatAm) countries, prices remained flat. Unigel to raise PS February prices in Brazil Unigel is seeking a 17% price increase on all grades of polystyrene (PS) sold in Brazil starting on 1 February, according to a customer letter. Sustained ethanol demand continues due to favorable fuel parity in Brazil The current fuel parity in Brazil continues to favor ethanol over gasoline, standing at a rate of 67%, as reported by market sources. Higher PET prices in Colombia and Chile at the end of January Polyethylene terephthalate (PET) prices in Colombia and Chile are firm based on market input, and demand is relatively stable with good spot availability in both countries. The recent fluctuation in prices is in line with international benchmark market trends this month.

05-Feb-2024

LyondellBasell sees durable goods demand recovery in H2 2024, firm PE prices – CEO

NEW YORK (ICIS)–Global durable goods demand should finally pick up in H2 2024 on falling interest rates and inflation, ending the longest such downturn in history, said the CEO of LyondellBasell. “We expect moderating interest rates, reduced inflation and infrastructure-related stimulus spending will begin to support a gradual return to healthier demand for durable goods during H2,” said LyondellBasell CEO Peter Vanacker on the company’s Q4 earnings call. Demand for durable goods lagged the overall economy during 2022 and 2023 as markets digested the extraordinary high levels of consumer spending that came with pandemic-era stimulus, he noted. While LyondellBasell expects 2024 earnings to improve versus 2023, the early part of the year is off to a slow start, and not just for durables. “As we begin 2024, the majority of our business are continuing to face slow demand seen in Q4 2023. But we are seeing a few early signs of improvement,” said Vanacker. “Our O&P (Olefins & Polyolefins) – Americas business is seeing modest demand improvement. In Europe, order trends are improving from a very low level as our O&P customers begin to pursue modest restocking,” he added. Restocking in Europe is being spurred by shipping disruptions through the Red Sea and Suez Canal. GRADUAL EARNINGS RAMP THROUGH 2024For all of 2024, LyondellBasell expects seasonal demand improvement to start towards the end of Q1 and continue through the summer and through H2. “This has been the longest downturn that we have seen as far as I can look back in our history. So one would expect that – if you look at inflation rates going down and interest rates going down, more consumer confidence in Europe, maybe also in China – demand would go up,” said Vanacker. US MOST ROBUST WHILE EUROPE, CHINA CHALLENGEDOn a geographic basis, the US has clearly been the most resilient economy for LyondellBasell and recent trends bode well for a recovery. “The US has been quite robust. You see robust margins on the polyethylene (PE) side and also inflation rates are going down. And already you see a little bit of indication there are more houses being built and sold, and that of course has a direct impact on demand for durable goods,” said Vanacker. LyondellBasell’s O&P – Americas segment saw Q4 2023 earnings before interest, tax, depreciation and amortization (EBITDA) rise 19.8% from Q3 on an adjusted basis to $604 million on higher volumes and margins. In contrast, its O&P – Europe, Asia & International (EAI) segment posted an adjusted loss of $87 million in Q4 versus a loss of $45 million in Q3. Low European demand is expected to persist into 2024 despite some restocking from shipping disruptions, while China demand continues to be slow to return. “China is the largest market for chemicals, exceeding North America and Europe combined. We continue to watch closely for targeted stimulus and other measures that could drive improved economic growth in China,” said Vanacker. Q1 OPERATING RATE OUTLOOKFor Q1, LyondellBasell expects its O&P – Americas business running at around 80% operating rates with some planned maintenance – down from about 85% in Q4. “During Q1, we expect PE prices to remain firm with modest improvements in domestic demand and ongoing strength in export markets. We anticipate ethane and energy costs will remain favorable for our assets in the region, providing some margin tailwinds,” said Ken Lane, executive vice president, Global Olefins & Polyolefins at LyondellBasell. Meanwhile, its O&P – EAI business should see operating rates of around 75% – up from about 65% in Q4. “As we move into 2024, we expect weak European demand will persist with ongoing consumer uncertainty. Nonetheless, we are seeing modest improvements in orders as some customers begin to restock and seek global supply as imports moving through the Red Sea are disrupted,” said Lane. “Demand in China remains muted as customers manage inventories with the approach of the Lunar New Year amid a slow economic environment,” he added. Focus article by Joseph Chang Thumbnail shows durable goods. Image by Andy Wong/AP/Shutterstock

02-Feb-2024

PODCAST: Asia benzene lifted by higher oil prices, pre-holiday restocking

SINGAPORE (ICIS)–Asia's benzene prices trended upwards because of crude gains as well some pre-Lunar New Year restocking. Downstream styrene (SM) producers however, struggled with higher costs and low demand from sectors such as polystyrene (PS), expandable polystyrene (EPS) and acrylonitrile-butadiene-styrene (ABS). In this chemical podcast, ICIS editors Angeline Soh and Luffy Wu discuss recent market conditions with an outlook ahead in Asia. Benzene Feb cargoes sold out from pre-LNY stocking up, US demand as plants shut from winter storm Demand for March cargoes buoyed; buyers beyond Asia worried about tightened supply with upcoming derivative additions in China Asian styrene market players struggling with high costs but low demand Regional styrene exporters eyeing long-haul opportunities to Europe

31-Jan-2024

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