NewsFlashEurope March styrene FCA rises €52/t

11 March 2008 14:53  [Source: ICIS news]

LONDON (ICIS news)-- The European styrene March free carrier (FCA) contract has been agreed up €52/tonne ($80/tonne) at €1,122/tonne ($1,726/tonne), reflecting high benzene and spot values, a major producer said on Tuesday.

 

“I am now in a position to confirm that we've settled our March styrene CRP [customer reference price] at €1,122/tonne with five customers,” the producer said, adding that the increase had been made as a result of “a combination of higher benzene values and a firmer spot market”.

 

The contract, which is settled on an FCA Rotterdam basis, had been completed at €1,070/tonne FCA Rotterdam in February.

 

March barge styrene contracts had been settled once at €1,088/tonne FD (free delivered) NWE and twice at €1,122/tonne FD NWE, late on Friday 29 February and on Monday 3 March.

 

The styrene contract settlements followed the March benzene contract which was agreed on Friday 29 February at €787/tonne FOB (free on board) NWE (northwest Europe).

 

Spot styrene was valued at $1,500-1,515/tonne FOB Rotterdam for March, up $10/tonne on the bid from the previous day’s close, according to global chemical intelligence service ICIS pricing.

 

($1 = €0.65)

 

For more on styrene see ICIS chemical intelligence

 

By: Peter Salisbury
+44 20 8652 3214

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