02 February 2012 14:04 [Source: ICIS news]
LONDON (ICIS)--An initial European styrene barge contract for February has been confirmed between one pair of settlers at €1,334/tonne ($1,755/tonne), up by €120/tonne from the previous month, the buyer and the seller involved said on Thursday.
The increase was primarily feedstock driven, according to the seller involved.
“Styrene producers have had their backs against the wall this month in terms of margins,” the seller added.
European styrene players have struggled with high benzene numbers so far this year, pushing up production costs while demand has been slow to pick up in the first quarter.
Further confirmation from other market participants is pending.
($1 = €0.76)
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