European styrene spot prices have surged to the highest level since early September, according to S&P Global Platts data.
The five- to 30-day forward spot price was assessed at $1,462/mt FOB ARA Tuesday, up $34/mt on the day, following an $80.50/mt jump on Monday.
The European styrene market had been relatively calm last week despite an issue heard at Trinseo's Boehlen unit in Germany, following issues at Dow's cracker at the same site.
The jump in styrene prices this week were heard in reaction to anticipated turnarounds in February and March. Maintenance work was heard to have started in the US recently, although Platts could not confirm the exact details.
The turnarounds in all three major regions of Asia, Europe and the US have been widely expected. Trader sources said that the loss in supply from the turnarounds were finally impacting styrene prices.
In Europe, Total, BASF and Repsol are among producers expected to conduct maintenance works.
Prices have also been bullish in Asia and the US. The CFR China marker price was assessed at $1,416.50/mt on Tuesday, up $21.50/mt on the day. The January FOB USG price was assessed at 61.70 cents/lb ($1,360/mt) Monday, up 1.35 cents on the day.
