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With two contract prices being heard for benzene, styrene contracts have been held back. In general, though, the market is quiet, displaying only minor fluctuations during the summer slowdown
Naphtha prices have spiked to $403-405/tonne cif NWE, pulled up by the rise in crude oil numbers, which reached record highs in the futures market. Naphtha demand is good but material is available in a largely balanced market.
Ethylene spot numbers have risen to $940-965/tonne cif NWE. Strong demand continues to place upward pressure on prices, and material is extremely scarce (see page 12). The unscheduled outage of FAO's number 2 Antwerp cracker is expected to be resolved shortly, while BP's KG Grangemouth cracker has now entered its maintenance turnaround.
Propylene spot price ideas continue to drift downwards in a quiet market. Players are concentrating on contract liftings, with little interest in spot material. With crackers largely running flat out, material is readily available. Derivative units suffering production problems has also improved availability.
Butadiene prices have firmed to $690-710/tonne fob NWE, although prices are largely nominal with no new spot deals reported. European markets have now moved back into balance after surplus material was shipped out of the region following an extended derivative unit turnaround.
August benzene spot prices are reported...