Declining Crude oil price effect the Styrene monomer in International market – 5 Dec 2014

Styrene prices are falling in India as consequences of sliding crude oil price price and poor demand conditions. The fall in the price also has impacted the major consuming sectors, like PS and ABS, by lowering the prices. Booking price fell down around 28% in last few weeks, the prevailing booking price of Styrene monomer is $1,050/MT.Styrene is continuously falling in major international markets from last two months, Styrene price decreased around 30% in South Korea (FOB), and prevailing price is $ 1,032/MT.

While Rotterdam and US Gulf coast following the same trend, In Rotterdam price declined around 24% to $1,226, US Gulf coast faced 22% fall in Styrene price to 52.3€/Gal. (The prevailing price as on Dec-4,2014)
Analyzing the prevailing conditions, demand for the chemical will remain weak during the coming days, and prices will also stay soft.

Stock position is low with traders and importers as well.
Traders expecting that market will stable in the beginning of Feb-2015.