ChemOrbis reports: Due to the tight supply in the market, the recent spot price of styrene in Europe has risen to turbulence. Since entering October, its cumulative increase has reached as high as $200/ton.
At the end of September, the European styrene market price remained in a downturn, the lowest since December 2012. In the following days, styrene prices in the region began to rebound strongly. On October 10th, FOB Northwest Nordic styrene spot price exceeded 1700 US dollars / ton mark, a record high in nearly a year.
Last weekend, Shell Chemical announced that its Moerdijk production plant in the Netherlands was forced to suspend styrene production due to accidental force majeure. Previously, on October 2, part of the plant's cracker was interrupted due to gas leakage. It is reported that the styrene capacity of the Moerdijk plant is 450,000 tons/year. Shell said that the factory will have to resume production at the end of the year.
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Barreled styrene
In addition to the styrene production unit, the propylene oxide/styrene monomer production unit from Shell and BASF's joint venture subsidiary Ellba is also installed in the Moerdijk plant. The plant has a capacity of 550,000 tons/year.
Coincidentally, during the parking at the Shell Moerdijk plant, some of the production facilities at Versalis, another large European styrene producer in Mantua, Italy, are still in service. The plant has a styrene capacity of 200,000 tons per year.
On the upstream side, the prices of raw materials have fallen steadily. Affected by the energy market, European benzene prices fell slightly last week. Brent crude has fallen for three consecutive weeks. On October 10, its futures trading price was $88/barrel, a record low since December 2010.
Downstream, after some producers slightly raised prices at the beginning of this month, market participants predict that the price of the European PS market will stabilize in the next few days. This will also have an impact on the styrene market trend in the region.
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