Interest in exporting styrene from the US to the EU has emerged after a sharp fall in US prices over the week, pointing to an opening of an arbitrage window between the two regions, according to S&P Global Platts data.
The USG styrene prompt spot price was assessed at 60.80 cents/lb ($1,340/mt) on Monday, down from 67.60 cents/lb ($1,490/mt) last Monday.
In Europe, the April spot price was assessed at $1,379/mt on Monday, up from $1,340/mt last Monday.
The export arbitrage is narrowly open at current prices if product were to be delivered at the end of April.
US prices had been the highest globally for a while, as planned and unplanned turnarounds in early Q1 tightened supply.
As a result, no immediate impact was seen from the announcement of antidumping duties on styrene imports into China from the US, Taiwan and South Korean in mid-February.
Sources said at the time that the impact from the duties on global markets will be clearer once US prices fall below Asia prices.
The CFR China marker price was assessed at $1,312.50/mt on Tuesday, remaining at a discount to US prices.
In other trade routes, a South Korean seller was looking for a buyer in Europe for shipment of styrene last week.
