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Styrene buying interest resurfaces in Europe after period of subdued activity

London — Buying interest for styrene cargoes resurfaced this week in Europe after a period of subdued activity.

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One large producer acquired 2,000 mt on Monday for October loading and then a further 1,000 mt for August delivery on Thursday.

The trades come as market participants seek to bolster inventories ahead of a series of planned maintenance periods later in the year.

In comparison, July so far has been a relatively quiet month, with lackluster downstream demand and oversupply in Europe.

US imports totaling 81,206 mt arrived in Europe during May, at a time when Shell was undergoing planned maintenance at its Moerdijk unit in the Netherlands.

S&P Global Platts assessed styrene for loading 5-30 days forward at $949/mt FOB ARA Thursday, down $4/mt on the day on the rolling loading dates in a contango market.

Related story: Paraxylene producers mull cutting runs on thin margins, limited PTA demand growth

-- Olu Shaw, olu.shaw@spglobal.com

-- Edited by James Leech, newsdesk@spglobal.com

S&P Global Platts European Petrochemicals Conference | November 28, 2019 | Rotterdam

Understanding the changing landscape of regional petrochemicals trade.

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