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European styrene's January feedstock costs fall 4.5% on month

London — Feedstock costs for European styrene in January fell 4.5% month on month, according to the most recent S&P Global Platts data.

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The decline was calculated based on the latest benzene and ethylene contract price settlements for January.

The ethylene contract price was settled at Eur1,057/mt ($1,275.50/mt), at a rollover, while the benzene contract was settled at Eur792/mt or $945/mt, down Eur55/mt or $57/mt.

Based on an industry estimated calculation of 0.29 ethylene and 0.79 benzene to produce ethylbenzene, a precursor of styrene, costs were estimated at Eur932/mt for January.

The styrene contract price for January is expected to settle Wednesday.

The European styrene spot price reversed gains seen in mid-December.

The 5-30 day forward spot price was last assessed at $1,259.50/mt FOB ARA Friday, down from $1,265/mt on December 1.

--Yuriko Kato, yuriko.kato@spglobal.com
--Edited by Jonathan Fox, jonathan.fox@spglobal.com