13 January 2012 23:22 [Source: ICIS news]
HOUSTON (ICIS)--US December styrene contract settlements ended within a tighter range, trade participants agreed on Friday, alongside volatile benzene prices, weak demand and ample inventories.
The January contracts were at 59.00-63.00 cents/lb ($1,301-1,389, €1,015-1,083/tonne) on average, compared with 58.50-63.50 cents/lb in December.
The full settlements come a week after producers and consumers reported mixed settlements.
The mixed December contracts also follow a 15 cent/gal decline in the feedstock benzene contract for that month. Styrene producers did not step out with any December price increase nominations.
Market participants have already said they expect January styrene contracts to increase on the back of a 70 cent/gal increase in the January benzene contract. Styrene producers have also supported that sentiment by nominating January price increases of 8 cents/lb.
($1 = €0.78)
For more on styrene visit ICIS chemical intelligence
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