Early expectations for the June styrene contract price in Europe have been heard at a rollover or a small increase, according to sources this week.
The May contract price was fully settled at Eur1,285/mt ($1,507/mt), which means the June contract is expected to settle in a range of around Eur1,285-1,305/mt.
The styrene spot price dipped mid-month to $1,335/mt, but has been increasing in the past week.
The 5-30 day forward styrene spot price was assessed at $1,380/mt on Tuesday.
Although the European market has been heard balanced, prices have been increasing on higher prices in Asia and bullish moves in feedstock benzene.
The CFR China marker price was assessed Tuesday at $1,425/mt, up from $1,381/mt on May 2.
Although the European benzene market remains long, prices have been supported by the rise in crude oil prices during the month.
The CIF ARA benzene spot price was assessed at $887/mt Tuesday, up from $845/mt on May 1.
