The November European styrene contract price was expected to be lower month on month in line with significant falls in spot prices during October, market sources said.
"I expect a Eur30-Eur40/mt ($34.4-$45.8/mt) decrease to account for it only falling Eur70/mt last month," a consumer said.
S&P Global Platts assessed styrene for loading 5-30 days forward at $1,242.50/mt FOB ARA Thursday, an 11-month low and down from $1,307/mt on October 1.
"If we keep seeing prices falling, we may see a big reduction in the contract price," a trader said.
Fundamentals in the European styrene market were balanced, with no major production problems reported, sources said. Supply was being topped up by imports from the US.
Demand was steady as polystyrene units in Europe were running at good levels with low import competition from polystyrene sellers from other regions, sources said.
Styrene prices this week were at a 21% discount to the October contract price of Eur1,310/mt.
