02 February 2011 17:43 [Source: ICIS news]
Correction: In the ICIS story headlined "Initial US styrene settlements rise 5 cents/lb on feedstocks" dated 2 February 2011, please read in the first paragraph ... January contracts ... instead of ... November contracts.... A corrected story follows.
HOUSTON (ICIS)--Initial US styrene monomer (SM) January contracts rose by an average of 5 cents/lb following stronger feedstocks, trade participants said on Wednesday.
The increase took initial styrene contract prices to 73-76 cents/lb ($1,609-1,675/tonne, €1,158-1,206/tonne) FOB (free on board). Additional January styrene settlements are expected to emerge this week and next week.
Styrene producers previously announced January contract nominations at increases of 7-8 cents/lb, after December contracts settled up by an average of 2 cents/lb at 68-71 cents/lb FOB.
The early settlements also came after February settlements at $4.35/gal FOB, up 51 cents/gal from December.
Major US styrene producers include Americas Styrenics, INEOS NOVA, Total and Shell Canada.
($1 = €0.72)
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