Polystyrene: Europe

摘要

The polystyrene market continued to keep its gaze fixed on developments upstream in both styrene monomer and benzene, market sources said, as bearish moves in both were prompting rethinks on April and May volumes. Since the benzene CP was agreed at the start of the month, the spot price for the product has fallen almost $90/mt, pushing down SM spot prices by about $55/mt during the month. Furthermore, SM spot prices were backwardated as much as $40/mt during the week, suggesting prices for derivatives will further drop off next month. “If raw materials are going down in May, how much will that influence demand at the end of April?” one producer said.