Initial Europe May styrene barge up €47/tonne on higher feedstocks

04 May 2012 09:34  [Source: ICIS news]

LONDON (ICIS)--An initial styrene barge settlement for May has been agreed at €1,347/tonne ($1,772/tonne), up €47/tonne from the previous month on higher feedstock costs, a buyer said on Friday.

“Well that is about the rise in feedstock, but I did expect more,” said one trader.

With a €58/tonne increase for benzene this month and a €20/tonne reduction in ethylene costs, the pure raw material cost increase for styrene is around €40/tonne.

However, suppliers had previously indicated that they would be pushing for additional increases beyond raw material costs, owing to restricted availability in the first half of May.The contract price was agreed on a free delivered (FD) northwest Europe (NWE) basis. Further confirmation from other players is pending.

($1 = €0.76)

Follow Truong Mellor on Twitter for daily tweets on the aromatics markets

By: Truong Mellor
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly