Europe styrene truck prices spike 6% this week on tighter supply

Source: ICIS News


LONDON (ICIS)--Europe styrene truck prices on a free carrier (FCA) Rotterdam basis have increased by €40-110/tonne this week because of tighter supply, sources said on Friday.

Prices are at €1,180-1,280/tonne. They had been below this level since March and were largely falling for near on two months from June.

Availability of styrene is reduced because of a force majeure in place at Covestro, logistics complications from low water levels on the Rhine and also as plant run rates are down by a few percent due to persistently high temperatures this summer.

In addition, demand for exports to Asia is quite healthy and there have been some delays to imports, sources said.

It has become somewhat of a sellers' market with prices at a much higher level being offered and accepted.

Single trucks were heard sold at around €1,260/tonne, while a couple of hundred tonnes were heard sold at €1,250/tonne FCA Rotterdam.

Follow Helena Strathearn on Twitter