European imports of styrene from the US have been delayed, but prices have declined due to the reported restart of Total's styrene unit at Gonfreville, according to S&P Global Platts data.
Vessels from the US have been delayed, contributing to a surge in prices last week, several sources said Monday. Styrene prices jumped to a month high amid rising bids for prompt product on Friday.
April was heard traded in a range $1,460-$1,515/mt at the end of last week.
Imports were expected to ease fundamentals as production issues continued in the European market.
Nevertheless, prices eased late Monday as offers for April and May fell to $1,500/mt and $1,390/mt respectively. Earlier in the day Platts assessed April and May values at $1,509/mt and $1,400/mt.
The decline in prices was in parallel with reports that Total had restarted its Gonfreville styrene unit on Monday.
Total was not available for immediate comment.
The duration of Total's turnaround was in line with expectations. Total had started planned maintenance on March 4.
