UpdateThird Europe styrene barge falls €120/t

30 September 2008 14:33  [Source: ICIS news]

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LONDON (ICIS news)--A third European October barge styrene contract has been settled down €120/tonne ($174/tonne) from September on the basis of feedstock decreases, the contract partners said on Tuesday.

"We have settled our contract at €1,110/tonne, which is down €120/tonne," the buyer said.

Monthly barge styrene contracts are settled on a free delivered (FD) northwest Europe (NWE) basis.

This followed two initial settlements at €1,166/tonne FD NWE and €1,162/tonne FD NWE down €84/tonne and €88/tonne respectively.

"This reflects the market," the producer said. "You just need to see spot this morning to see it."

The consumer added: "It came down on the basis of the whole complex. We have taken a different approach to the rest of the industry. This is today’s situation."

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

($1 = €0.69)

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By: Peter Salisbury
+44 20 8652 3214

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