HOUSTON (ICIS)–The spread between US spot styrene and feedstock spot benzene prices narrowed, ICIS analysis showed on Monday.
The spread between the two products for the week ended 15 July was 14.13 cents/lb, compared with 13.47 cents/lb the prior week.
The spread has held in the 13.0-15.5 cents/lb range for most of June and July, since narrowing from more than 18 cents/lb in early June.
The wide spread had been due to downward pressure on benzene prices amid long supply and upward pressure on styrene prices amid strong export demand. As export demand for styrene eased and as supply for benzene tightened, the spread has narrowed over the last few weeks.
For the week ended 15 July, prices for both spot benzene and spot styrene closed the week as flat to the prior week. However, the price range for the week for benzene was slightly lower and for styrene was slightly higher, leading to the slight widening of the spread.