Prices for styrene monomer in East China at the end of last week fell to the lowest level observed in September, although they remained above the level of August, ICIS reports.
According to ICIS, on September 27, styrene prices in East China were at the level of CNY8 620–8,700 per tonne, decreasing by CTN100–130 yuan per tonne compared to the previous day.
Due to bad weather, the arrival of deliveries of 40-50 thousand tons to local ports was delayed, which significantly reduced the reserves at local ports on Wednesday, September 25. The total styrene reserves in the region last week were at the level of 74.5 thousand tons, which is 10.6 thousand tons lower than the level of the previous week.
Thus, the spot offer was relatively limited in the first half of the week.
Meanwhile, on September 26, the China Dalian Commodity Exchange (DCE) issued styrene futures. So, the contract for May 2020 was opened at a price of CNY8,020 per ton on September 27 and closed at a price of CNY7,940 per ton.
Styrene is the main raw material component for the production of polystyrene (PS).
According to ScanPlast of Market Report, the total estimated consumption of PS and styrene plastics in Russia in July of this year amounted to 39.13 thousand tons, which is 1% less than the same indicator last year (39.60 thousand tons in 2018). For the period January – July 2019, the consumption of PS and styrene plastics in the Russian Federation amounted to 287.37 thousand tons, which is 2% more than last year.