EPCA ’08: Tuesday set for more styrene contracts

29 September 2008 18:22  [Source: ICIS news]

MONTE CARLO (ICIS news)--Further European October styrene barge settlements would not be reached on Monday following an initial settlement down €84/tonne ($124/tonne) from September, key participants said.

“We will settle tomorrow,” said a source at one major producer.

Sources at another major producer and consumer also said that negotiations would not be finalised until the following day.

Earlier in the day, an initial settlement had been reached at €1,166/tonne ($1,715/tonne) FD (free delivered) NWE (northwest Europe).

Three monthly barge styrene contracts and one FCA (free carrier) or contract reference price are usually settled publicly in Europe.

September barge styrene contracts had been settled twice at €1,250/tonne FD (free delivered) NWE (northwest Europe) and once at €1,230/tonne FD NWE, down €36/tonne, €30/tonne and €30/tonne.

The September FCA CRP was also settled at €1,250/tonne FCA Rotterdam, down €40/tonne.

($1 = €0.68)

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By: Peter Salisbury
+44 20 8652 3214

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