30 November 2005 15:13 [Source: ICIS news]
LONDON (ICIS news)--The first styrene contract for December settled down Euro100/tonne on November between one producer and three buyers on Wednesday, ahead of the benzene and the styrene barge settlements.
A major Northwest European producer said it had agreed its December styrene contract price at Euro825/tonne free carrier (FCA) Rotterdam with several customers. Three buyers have confirmed this price so far.
Styrene market players, in an unusual move, settled their December contract before an agreement on the benzene contract price and before the styrene barge contract for next month. Some market sources said this gives a good idea as to where benzene might settle.
There were suggestions from sources in the market that this settlement had been consumer-led.
One of the consumers which confirmed the Euro825/tonne FCA Rotterdam contract price said he would not settle with other suppliers until benzene was done.
The December benzene contract price is expected to settle later on Wednesday.
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