US April Styrene contracts assessed lower amid global crude crash and demand erosion

摘要

HOUSTON (ICIS)--US April styrene contracts were assessed at a significant decrease this week, as the crash in global crude oil prices and demand erosion amid the coronavirus outbreak continue to weigh on the market.US styrene prices felt downward pressure, influenced by lower upstream benzene prices amid decreased demand caused by pandemic mitigation efforts. US May benzene contracts settled lower than the previous month, as spot benzene prices and crude futures slid to historic lows. Contracts dropped 26 cents/gal ($78/tonne) from $1.21/gal to $0.95/gal FOB (free on board) in the US Gulf.