UpdateEurope Sept FCA styrene falls €40/t

03 September 2008 12:42  [Source: ICIS news]

LONDON (ICIS news)--September’s European styrene truck contract reference price (CRP) has been settled down €40/tonne ($58/tonne) from August, a source at a major producer said on Wednesday.

 

“We have settled the September styrene CRP at €1250/tonne with all our customers,” the source said. 

 

Monthly truck contracts are settled on an FCA (free carrier) Rotterdam basis. 

 

By 11:00 GMT, it had not been possible to confirm the number with the producer’s customers. 

 

Players in the wider market held the September price to be representative of the current market, as the settlement was at a parity to two of three barge styrene settlements concluded earlier in the week.

 

Barge styrene contracts had been settled once at €1,230/tonne FD (free delivered) NWE (northwest Europe), and twice at €1,250/tonne FD NWE, at respective decreases of €30/tonne, €30/tonne and €36/tonne from the various contract partners’ August settlements.

 

Three barge styrene contracts are usually settled publicly, followed by an FCA CRP, often in line with movements in upstream benzene, which settled down €29/tonne for September.

 

($1 = €0.69)

 

For more on benzene and styrene visit ICIS chemical intelligence

To discuss issues facing the chemicals industry visit ICIS connect

 

 

By: Peter Salisbury
+44 20 8652 3214

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