The US styrene price was heard traded this week at 57.25 cents/lb, with sources saying 2,000 tons of material would be shipped to India.
Earlier in the week, sources talked the spot price for styrene between 54 and 55 cents/lb, which would have been too low to motivate sellers, a source said. With spot benzene priced near 342 cents/gal and ethylene still over 50 cents/lb, variable costs for benzene production were estimated near 54.75 cents/lb. The 57.25 cents/lb deal would still be below the 3-cent minimum margin producers generally look for.
"There's aren't many people out there paying that much for ethylene," a source said. "Chances are they're paying contract for ethylene."
The last settled US ethylene contract price was posted at 47.25 cents/lb, with the net CP at 42.75 cents/lb.
The US price would have to fall to near 55 cents/lb or lower to encourage exports from the US to Europe or Asia. The European and Asian prices were nearly flat to each other -- betwen $1,260 and $1,270/mt.
Earlier in the week, sources talked the spot price for styrene between 54 and 55 cents/lb, which would have been too low to motivate sellers, a source said. With spot benzene priced near 342 cents/gal and ethylene still over 50 cents/lb, variable costs for benzene production were estimated near 54.75 cents/lb. The 57.25 cents/lb deal would still be below the 3-cent minimum margin producers generally look for.
"There's aren't many people out there paying that much for ethylene," a source said. "Chances are they're paying contract for ethylene."
The last settled US ethylene contract price was posted at 47.25 cents/lb, with the net CP at 42.75 cents/lb.
The US price would have to fall to near 55 cents/lb or lower to encourage exports from the US to Europe or Asia. The European and Asian prices were nearly flat to each other -- betwen $1,260 and $1,270/mt.
