05 September 2011 15:31 [Source: ICIS news]
LONDON (ICIS)--The third European September styrene barge contract has been confirmed at €1,202/tonne ($1,693/tonne), down €43/tonne from the previous month, the buyer and seller involved confirmed on Monday.
Negotiations took longer than normal this month, with different dynamics pulling the market in opposing directions.
While the €67/tonne reduction for benzene had been expected due to lower demand, there is still an expectation of shortness for styrene this month because of several planned turnarounds.
According to the seller, this helped reverse some of the downwards trend caused by feedstock reductions.
The settlement was made on a free delivered (FD) northwest Europe (NWE) basis.
($1 = €0.71)
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