NewsFlashFirst Euro Feb styrene FD contract nomination at Euro925/mt

01 February 2006 12:56  [Source: ICIS news]

LONDON (ICIS news)--The first February European styrene contract nomination from a consumer has been made at Euro925/tonne free delivered (FD) Northwest Europe (NWE), a major styrene consumer confirmed on Wednesday.

The nomination is up Euro 32/tonne on January settlement levels.

The styrene buyer cited poor demand in Europe and slow demand in Asia because of the Lunar New Year holiday as a reason for the Euro 925/tonne FD NWE contract price nomination.

Meanwhile, the first producer nomination on the free carrier (FCA) contract, or “customer reference price” for February was reported on Tuesday at Euro980/tonne FCA Rotterdam. If agreed, this would mark an increase of Euro80/tonne on January which settled at Euro900/tonne FCA Rotterdam.

The nominations followed the first European benzene contract settlement for February, which was agreed on Tuesday at Euro675/tonne, an increase of Euro72/tonne from January.

By: Julia Meehan
+44 20 8652 3214

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