Styrene:United States

摘要

US spot styrene tumbled 2.15 cents on the week, assessed at 71.15 cents/lb FOB USG as an arbitrage window to Asia closed midweek. No firm bids, offers or deals were heard on the week, but sources pegged the market for November at 71-72 cents/lb FOB, with most sources seeing the market closer to 71 cents/lb late week. Sources said the US was tracking Asian pricing because that market presented the better netback, but midweek, Asian styrene prices fell steeply as the laycans shifted amid lowering global prices. Asian styrene on an FOB Korea basis was assessed at $1,643/mt for H1 December and $1,624/mt for H2 December, meaning with freight at $90/mt, US styrene would need to less than 70.40 cents/lb FOB USG to work the arbitrage for H1 December and around 69.60 cents/lb FOB USG to work the arbitrage for H2 December, according to Platts data.