30 June 2008 14:37 [Source: ICIS news]
LONDON (ICIS news)--European spot styrene traded at $1,700/tonne (€1,077/tonne) for the first time on Monday, $25/tonne higher than a deal done the previous week, spurred on by high energy and feedstock values and reduced production in Europe.?xml:namespace>
A trade seller and industry buyer confirmed the deal for 1,000 tonnes of July loading styrene at $1,700/tonne FOB (free on board) ?xml:namespace>
A deal done the previous week at $1,675/tonne FOB
The most recent deal came on the back of higher benzene numbers seen earlier in the day and a general sentiment of market tightness after major producer Dow announced that it would run at reduced rates.
Benzene was talked at $1,315-1,330/tonne CIF (Cost, insurance and freight)
($1 = €0.63)
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