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)
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