Styrene:Europe

摘要

Styrene prices traded above the $1,100/mt FOB level this week as the market reacted to firmer news from Asia. The strength seen today also flipped the market into a $5-10/mt contango as the perception of tightness in the front month appeared to strengthen. The market was further buoyed by the announcement that BASF will shut its 550,000 mt/year SM plant in Germany this weekend. BASF settled its September CP at Eur992/mt FD NWE ($1,275/mt) with Synthomer, Eur30/mt above the August CP. Total also settled two separate September CPs at Eur1,006/mt FD NWE, with Styron and Ineos Nova.