02 December 2011 23:47 [Source: ICIS news]
HOUSTON (ICIS)--Initial November styrene contracts dropped 1-2 cents/lb ($22-44/tonne, €16-33/tonne) from October prices of 60.50-65.50 cents/lb, one producer said on Friday, on the back of lower feedstock benzene prices, ample inventories and weaker demand during a seasonal lull.
Additional November styrene contracts are expected to emerge next week.
The decline was in line with market expectations as styrene producers did not come out with any price initiatives for November.
Major North American styrene producers included Shell Canada, Styrolution, Americas Styrenics and Total.
($1 = €0.74)
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