Bullish Feedstock Ethylene and Benzene market surged Styrene’s price in The Netherlands
- 04-Mar-2022 2:43 PM
- Journalist: Patrick Knight
In the Netherlands, the prices of Styrene surged this week where the prices surged to be $1550/ton FOB Rotterdam and $1435/ton Spot Ex-Rotterdam with a week-on-week inclination of 0.6% and 1.1% respectively. The prices of Styrene started surging from the mid of January 2022 when prices were observed to be hovering around $1368/ton Spot Ex-Rotterdam. Surging Ethylene and Benzene prices kept the cost of Styrene on the upper end.
In Germany, the Styrene market was observed to be stable with the price trend of $1780/ton Spot Ex-Hamburg. Exports to Germany was heard to be traded moderately with surging demand in the European region. The Russia-Ukraine conflict had triggered up the prices of crude oil and Natural Gas adding the already high-cost inflation pressure on global commodity market. Robust styrene demand revised the Polystyrene prices with an increase in its consumption in packaging industries. Feedstock Ethylene and Benzene also marched high in the Netherlands. The sharp price increase was triggered by tight product availability and strong market sentiments. Although, availability is yet to improve significantly, various players desire to see improvement in supply levels as provincial makers lifted force majeures and proceeded with creation at their styrene plants. On the demand front, there is little optimism regarding stock renewal exercises.
According to ChemAnalyst, “the price of Styrene is expected to improve with robust demand in the regional market of Netherlands. Exports to Belgium, Germany and France are also expected to improve with surging demand in its downstream derivatives market. Styrene prompt supply will remain tight. Acrylonitrile butadiene styrene costs are relied upon to hold up as well, as sellers endeavour to grow margin in the upcoming weeks on reported strength in demand. The drawback is more probable in polystyrene and styrene-butadiene rubber, where feedstock decreases are yet to be passed down the chain.”