Styrene producers look to increase Feb contracts in N America

03 February 2011 18:35  [Source: ICIS news]

HOUSTON (ICIS)--North American styrene monomer producers said on Thursday they will push for increases on February contracts because of higher feedstock benzene costs.

Produces are looking for increases of 7–9 cents/lb ($154–198/tonne, €111–143/tonne).

The February contract nominations came as initial January styrene settlements rolled out increases of 5 cents/lb on average, putting prices at 73–76 cents/lb FOB (free on board), according to ICIS.

The higher January styrene settlements and February nominations also came following feedstock benzene February contracts settled at $4.35/gal FOB, the third-highest benzene settlement ever.

Buyer reaction to the February nominations was not immediately available.

Major North American styrene producers include Americas Styrenics, INEOS NOVA, LyondellBasell, Total and Shell Canada.

($1 = 0.72)

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By: Brian Balboa
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