US June styrene contracts drop 4-5 cents/lb

12 July 2011 23:30  [Source: ICIS news]

HOUSTON (ICIS)--US June styrene contracts were confirmed to have settled down 4-5 cents/lb on Tuesday at an average range of 73-77 cents/lb ($1,609-1,698/tonne, €1,142-1,206/tonne), on the back of weak demand and falling feedstock benzene prices in June, according to market participants.

The range was down from the May contract levels at 77-82 cents/lb FOB (free on board), in line with market expectations after producers did not come out with price nominations.

Producers have also not stepped out with any contract price initiatives for July styrene contracts.

($1 = €0.71)

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By: Brian Balboa
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