SUBSCRIBER NOTE: Platts reissues European styrene commentary, rationale for Dec 27

S&P Global Platts has reissued the daily commentary and rationale for European FOB ARA styrene for December 27, 2017, to restate the 5-30 day spot price. The price was misstated in the December 27 commentary, published on Platts Petrochemical Alert page 750.

The commentary now reads: European styrene monomer was higher on Wednesday compared to last Friday as the assessment dates rolled forward. Generally, however, the market was quiet. "Not a great deal going on," said a source. There was no assessment on Monday and Tuesday due to the Christmas holidays. The 5-30 day forward spot price was assessed up $3.50/mt from last Friday to $1,244/mt FOB ARA. The January month was assessed at $1,245/mt FOB ARA, and the February month was assessed at $1,255/mt FOB ARA, stable from last Friday. The Feb-Jan contango was assessed at $10/mt, also stable from last Friday with no indications evidencing otherwise. Overnight in Asia, FOB Korea styrene prices rose $14/mt with the marker price assessed at $1,256.50/mt, on the back of firming domestic China levels. US December styrene was stable last Friday, assessed at 56.70 cents/lb FOB USG ($1,250/mt) with activity levels low. Based on the latest prices, interregional arbitrage opportunities remain closed.

The rationale now reads: S&P Global Platts assessed styrene for delivery 5-30 days forward at $1,244/mt FOB ARA on Wednesday, up $3.50/mt from last Friday as the assessment dates rolled forward. There was no assessment on Monday and Tuesday due to holidays. January FOB ARA was assessed at $1,245/mt, and February FOB ARA was assessed at $1,255/mt, both unchanged and at a $10/mt contango between each other.

The reissued commentary and rationale are available on PCA page 750. Please send questions and comments to petchems@spglobal.com with copy to pricemethodology@spglobal.com.