US spot styrene prices rise, contract prices fall

HOUSTON (ICIS)–US spot styrene prices were flat for the first half of the week before firming on tight supply conditions, market sources said on Friday.

The market is sold out until April, and supply is expected to remain tight through the first half of this year, market participants said.

Prices on Thursday firmed to 39.70-40.15 cents/lb ($875-885/tonne), which was up by about 1 cent/lb from the previous day. Nothing was reported to have traded in the spot market this week. The last confirmed deal was done on the previous Friday at 38.96 cents/lb.

The US market was very inactive because of the arrival of the Lunar New Year holidays in Asia. The market will be even quieter next week, when the actual holidays take place.

January styrene contracts have settled at a decrease of 1-2 cents from December, producers confirmed this week. Forward negotiated February contracts are getting done at a decrease of 1.25-2.0 cents/lb, producers confirmed.

The US styrene spot weekly range was assessed on notional bids and offers during the week. The Friday price was also assessed on notional bids and offers in the market late on Friday.

INEOS Styrolution will conduct a planned turnaround at its 430,000 tonne/year Sarnia, Ontario, Canada, styrene plant in May and June, according to a market participant.

Americas Styrenics began a standard catalyst turnaround on one of its two production lines at St James, Louisiana this week. The work is expected to last from 3-4 weeks.

US styrene producers include Americas Styrenics, Carville Styrenics, INEOS Styrolution, LyondellBasell and Westlake Styrene.