US July styrene contracts fall 3-4 cents/lb on weaker benzene

12 August 2011 23:35  [Source: ICIS news]

HOUSTON (ICIS)--July US styrene contracts were assessed on Friday at 69.00–74.00 cents/lb, down 3-4 cents/lb, based on a weaker benzene contract in July.

The decline was down from June contract levels of 73.00–77.00 cents/lb ($1,609–1,698, €1,126–1,189) FOB (free on board).

Producers and consumers said they have had settlements for July anywhere from a rollover to a decline of 4 cents/lb.

When initial July styrene contracts emerged a week earlier, market participants said they did not expect to see an increase in the July contracts, based on a lower settlement in the feedstock July benzene contract.

Producers are already looking to rebound from July by nominating August price increases of 5–9 cents/lb. The August nominations were in line with the 44 cent/gal increase in the August benzene contract.

($1 = €0.70)

For more on styrene visit ICIS chemical intelligence

By: Brian Balboa
+1 713 525 2653

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