2nd March styrene settles up €60t on Feb average

03 March 2008 10:22  [Source: ICIS news]

LONDON (ICIS news)--A second March styrene contract has been settled at €1,122/tonne ($1,700/tonne), up €60/tonne from the February average on higher energy and spot values, sources at a major producer and consumer said on Monday.

The settlement, made on an FD (free delivered) NWE (northwest Europe) basis, represented an increase of €47/tonne from the contract partners’ February settlement and €60/tonne from the average of the three February settlements, the sources said.

The settlement had been made late on Friday but not disclosed, they added.

“This represents a €60/tonne increase from the February average of €1,062/tonne,” the producer source said.

“It’s up €47/tonne from the last settlement we made [at €1,075/tonne],” the consumer source added, “but €60/tonne from the February average. The increase was made on higher energy costs and spot values.”

($1 = €0.66)

For more on styrene visit ICIS chemical intelligence

By: Peter Salisbury
+44 20 8652 3214

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