03 July 2008 10:29 [Source: ICIS news]
LONDON (ICIS news)--A third European July barge styrene contract has been settled at an increase of €43/tonne to €1,228/tonne ($1,949/tonne) on the back of high feedstock and energy costs, a major producer and consumer said on Thursday.
The partners had settled their June contract at €1,185/tonne FD NWE.
Both settlers said that soaring energy costs had impacted on both feedstocks and fuel costs for styrene production.
"The increase of raw materials, ethylene in particular, contributed to this settlement," one of the settlers said. "Fuel and energy costs were also a major factor."
A first styrene barge contract was settled at €,180/tonne FD NWE, up €35/tonne from the contract partners’ June settlement, and a second at €1,236/tonne FD NWE, up €46/tonne.
($1 = €0.63)
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