Europe March styrene barge CP agreed at rollover of €1,334/tonne

01 March 2012 14:58  [Source: ICIS news]

BRUSSELS (ICIS)--The March European styrene barge contract has been confirmed at €1,334/tonne ($1,779/tonne), a rollover from the previous month, sources said on Thursday.

An initial settlement was agreed between one seller and one buyer. Another pair of settlers later confirmed that they had followed.

A rollover from February had been predicted by numerous players over the past week, as the reduction on March benzene had been counterbalanced by an €86/tonne increase for ethylene this month.

Speaking from the sidelines of the European Petrochemical Luncheon in Brussels, one styrene consumer said that the rollover was a fair compromise between the higher ethylene costs and the benzene reduction this month.

The contract price was made on a free delivered (FD) northwest Europe (NWE) basis.

($1 = €0.75)

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By: Truong Mellor
+44 208 652 3214

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