US styrene contract moves up for January

02 February 2007 23:45  [Source: ICIS news]

HOUSTON (ICIS news)--An initial US January styrene contract settlement increase of 1.6-2.5 cents/lb more than December levels still fell well short of proposed hikes of 5-6 cents, market sources said on Friday.

The January settlement of 60.6-64.5 cents/lb ($1,335.62-1,421.58/tonne) FOB (free on board) was based on the jump in the January benzene contract, trade sources said.

The January benzene contract was at $3.74/gal FOB, up 42 cents from December.

Additional January settlements were expected to emerge later in the week.

Major producers include Chevron Phillips, Lyondell and INEOS.

By: Brian Balboa
+1 713 525 2653

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