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Wednesday, July 6, 2022

European styrene spot market is weak

IHS Markit recently released a report that there is no clear price rebound in the European styrene market due to the absence of a strong rebound in the Asian styrene market. At the same time, due to high styrene stocks in eastern China, global market conditions continue to be bearish. For most of February, the spot price of styrene has been fluctuating and trading activity has been suppressed. The agency said that due to market sentiment, the sales of styrene derivatives in China will still be lower than expected in March.

IHS Markit assessed that at the end of January before the Lunar New Year, East China stocks were 270,000 tons, and in February, stocks rose to 400,000 tons. After the Lunar New Year, European market participants are worried that the market will have a delay in purchases and have been on the sidelines. Market participants said that before the Asian market fully recovered, European styrene manufacturers could only wait, and most companies have shifted their focus to March and April. The European styrene plant is scheduled to begin major repairs in the spring. At present, the European styrene spot market is clearly lacking in vitality and is rarely traded. Since the end of last year, the number of active traders in Europe has also decreased.

Translated by Google Translator from http://www.cria.org.cn/newsdetail/47837.html

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