14 December 2011 21:10 [Source: ICIS news]
HOUSTON (ICIS)--US November styrene contracts settled down by 2 cents/lb ($44/tonne, €34/tonne) from October on average, market participants confirmed on Wednesday, on the back of lower feedstock benzene prices, ample inventories, weak demand and a seasonal slowdown.
The decline, which was in line with lower initial settlements a week earlier, took November prices down to 58.50-63.50 cents/lb, according to ICIS.
Producers did not come out with any price initiatives for November and have not made any for upcoming December contracts.
However, some producers have said they may look at a price increase in January, as current benzene spot prices have moved above the December benzene price of $3.00/gal.
Major North American styrene producers include Shell Canada, Styrolution, Americas Styrenics and Total.
($1 = €0.77)
For more on styrene visit ICIS chemical intelligence
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