Europe styrene bids down 17% in one day

Europe , Styrene Dec 18, 2014 No Comments

Europe styrene bids down 17% in one dayOn Tuesday evening, December styrene bids hit $890/tonne FOB Rotterdam, with talk of a deal done at this level, although this could not be immediately confirmed. This is the lowest bid level since 4 June 2009 when they were at $880/tonne FOB Rotterdam.

The unprecedented falls were driven by plunging crude, benzene and naphtha values and weak demand. This weak demand approaching the year end, when players traditionally destock to lower working capital on balance sheets, coupled with buyer uncertainty over where the floor is for upstream prices has also placed downward pressure on styrene prices.

Via ICIS Reports That Europe Styrene Bids See Record Daily Fall, Down 17% – ICIS

Pascal Blanc

Pascal has implemented numerous software solutions in the areas of procurement, sourcing, spend management, supplier evaluation and performance. His clients include Fortune 500 companies in Europe, Asia and North America. He is a co-founder of Source & Procure.

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