04 September 2009 17:35 [Source: ICIS news]
LONDON (ICIS news)--The European September styrene truck customer reference price (CRP) has been agreed down €100/tonne ($143/tonne) from August, one producer and a consumer said on Friday.
The CRP was settled at €880/tonne FCA (free carrier) ?xml:namespace>
Players had widely anticipated the fall in the truck contract after the European barge contract was agreed earlier in the week at €874/tonne FD (free delivered) NWE (northwest
The producer involved in the talks said: "Styrene margins have been eroded over recent months and are still not acceptable. Even though we do welcome the small improvement in margin, we still need more."
Sources said it was the first time this year that the styrene barge contract had seen a drop in pricing, which was a compromise of upstream movements, several players added.
The September benzene contract in
However, upstream ethylene contracts had increased for September by €80/tonne at €875/tonne, it was confirmed some weeks ago, and styrene spot values had also traded about $60-70/tonne higher than when the August contracts were settled.
“The decrease is in line with our original request to cover the raw material price movements,” the buyer involved in the talks said on Friday afternoon.
Meanwhile, September spot styrene traded at $1,092.50/tonne FOB (free on board)
($1 = €0.70)
To discuss issues facing the chemical industry go to ICIS connect
For more on styrene visit ICIS chemical intelligence
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections