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.
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