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(ICIS) -- Despite the onset of a slump in
demand due to the traditional summer holiday slowdown, European styrene values
have risen by almost USD 100/tonne (EUR 71/tonne) in July as firming aromatics
numbers in Asia and the US and upcoming turnarounds prompted an upturn in
pricing, sources said on Tuesday.
Despite a predicted drop in July barge contracts on the back of lower
feedstock costs, spot values have steadily gained as the month has
progressed.
The midpoint of July deals during the first week of the month was USD
1.355/tonne, according to ICIS data. Bids and offers for July were at USD
1.440–1.450/tonne FOB (free on board) Rotterdam on Tuesday morning, with August
at a USD 20/tonne contango.
One European trader said that the upwards movement on styrene was largely
coming from higher benzene prices.
mrcplast.com
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