13 April 2012 16:43 [Source: ICIS news]
HOUSTON (ICIS)--US March styrene contracts settled up by 1.00 cent/lb on average to 71-75 cents/lb ($1,565-1,653/tonne, €1,189-1,256/tonne) on Friday, sources said, citing the 3 cent/gal increase in March benzene contracts.
The full settlements come a week after market participants announced initial settlements of 1.00-1.50 cents/lb.
March styrene settlement increases ranged from 0.50 cent/lb to 1.50 cents/lb above February.
The increase was also below producer price-increase proposals of 2-3 cents/lb.
Producers have not announced any price increases for April, which was also attributed to a weaker feedstock benzene market, as the April benzene contract declined by 11 cents/gal.
Major North American styrene producers include Americas Styrenics, Styrolution, LyondellBasell, Total and Westlake Chemical.
($1 = €0.76)
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