Us styrene prices hit a five-month high

- Mar 08, 2019-

Us styrene prices hit a five-month high this week after rising on Tuesday, pushing spot prices to $1,025 a tonne FOB us gulf coast.

The last price increase was on November 2, 2018, when it reached $1,069 / ton.

Us styrene prices have stabilised recently, hovering between $1,000 and $1,005 per tonne.Styrene prices rose $20 on Tuesday due to tight supplies.

Styrene production plant

Spot European styrene prices were stronger * at $1,065 a tonne, a source said, further supporting U.S. pricing.

U.S. supplies have been limited since Styrenics conducted a 45-day overhaul of its st. James facility.A company source * said recently that the plant, which has a capacity of 953,000 tons/year, will end its overhaul work in mid-march.Market participants said another producer could enter the planned maintenance phase at the end of march, but details and confirmations have not been made public.

Related to the economy, margins on spot styrene have improved after * was hit by a stronger contract price for benzene in March.Platts estimates a spot profit margin of nearly $307 a tonne.