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)
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