Initial Europe April styrene barge confirmed at €1,248/tonne

31 March 2011 13:23  [Source: ICIS news]

(adds clarification in fourth paragraph that a different seller expected the market to pick up in April)

LONDON (ICIS)--The first European April styrene barge contract has been confirmed at €1,248/tonne ($1,758/tonne), down €80/tonne from the previous month, both the buyer and seller said on Thursday.

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

According to the buyer, the decrease for April was prompted by a reduction in feedstock costs. The seller agreed but said that demand is still healthy.

With limited imports coming into Europe and an upturn in buyer interest expected from the construction industry  and in particular the expandable polystyrene (EPS) sector - a second seller expected the market to pick up in April.

($1 = €0.71)

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By: Truong Mellor
+44 208 652 3214

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