Initial Europe August styrene rolls over at €995/tonne

30 July 2010 15:49  [Source: ICIS news]

LONDON (ICIS)--An initial Europe August styrene barge contract has rolled over at €995/tonne ($1,309/tonne), one seller and one buyer said on Friday.

Although this was €22/tonne higher than the July barge settlement, the buyer involved said it represented a rollover. The figure was agreed between a new pair of contract settlers.

One player said that the number, even when considered as a rollover, came as a surprise.

“Ethylene came down for August, and I expect benzene to also see a reduction,” the player said. “The styrene spot market has also gradually come off, so I would expect the barge contract for August to come down.”

The settlement was made on a free delivered (FD) northwest Europe (NWE) basis.

($1 = €0.76)

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By: Truong Mellor
+44 208 652 3214

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