DATE : 2014-06-16
Shell Canada confirmed on Monday its styrene plant in Alberta, Canada, will be off line for the remainder of June.
Trade sources had said last week that the facility, which has a styrene capacity of 45,000 tonnes/year, would be off line for the month.
The company did not say exactly when the facility went down or if it was planned or unplanned downtime.
However, the downtime comes as US styrene supply has gotten tighter because of recent or ongoing production issues.
As a result, many US styrene producers are sold out of material for June.
This along with stronger feedstock benzene prices has helped to firm up US styrene prices.
Current styrene spot prices are at 71.50-72.00 cents/lb ($1,576-1,587/tonne) FOB (free on board). Spot prices have moved gradually higher above the 70 cent/lb mark the past two weeks.
SOURCE Icis News