In the European region, Styrene Acrylonitrile prices fell sharply on Thursday due to plummeting feedstock Styrene market dynamics. The demand for Styrene Acrylonitrile has been sluggish amidst muted market sentiments. Consequently, the market had a bearish pricing undertone due to the volatility in the monthly contract prices for March 2023. According to a source in the European industry, market participants were reported to be taking a cautious stance and monitoring the near-term market outlook to understand the fundamentals of pricing better. Traders and purchasers are concerned about their contract orders since the price of Styrene has fluctuated on and off during the previous quarter.

In the German market, the prices of Styrene Acrylonitrile have declined as demand has remained bearish during the first week of March. SAN FD Hamburg (Germany) prices were assessed at stable levels, roughly estimated at around USD 2680/MT. Ample product availability has been a major price-driving factor for Styrene Acrylonitrile in Europe for a long time. As per the market sources, prices remained unchanged due to the balanced demand-supply situation in the region. Furthermore, Styrene Acrylonitrile  FD Rotterdam was assessed at USD 2685/MT in the Netherlands.

However, On February 28, 2023, Trinseo, a producer of specialty material solutions, and its European affiliate firms announced a price rise for all Styrene Acrylonitrile grades, mostly due to increases in the cost of raw materials used in Styrene manufacturing. The contract and spot prices for Styrene Acrylonitrile will increase by +32 USD per metric ton as of March 1, 2023, or as permitted by the provisions of the current contract. As per sources, The European market may witness more stability in the coming weeks due to this price rebound.

According to ChemAnalyst, only a few companies attempted to boost prices following a slight improvement in the price stability of Styrene Acrylonitrile. Instead, prices for feedstock Styrene were generally held steady at levels from the previous month. The Styrene Acrylonitrile supply situation is not anticipated to alter considerably despite some facilities maintenance.