Europe May styrene barge contract confirmed at €1,347/tonne

04 May 2012 12:23  [Source: ICIS news]

LONDON (ICIS)--The styrene barge settlement for May has been confirmed at €1,347/tonne ($1,772/tonne), up €47/tonne from the previous month on higher feedstock costs, as the initial settlement was followed by other parties.

Following the initial agreement early on Friday morning between one seller and one buyer, another producer confirmed it had agreed to the €47/tonne increase with two consumers. This was later confirmed by the two buyers in question.

With a €58/tonne increase for benzene this month and a €20/tonne drop 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.

($1 = €0.76)

By: Truong Mellor
+44 208 652 3214

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