11 May 2012 23:43 [Source: ICIS news]
HOUSTON (ICIS)--April styrene contracts settled down by 1 cent/lb ($22/tonne, €17/tonne) from March, on the back of a lower April benzene contract, trade participants said on Friday.
The decline took styrene contracts down to 70.00-74.00 cents/lb and was in line with market expectations, as producers did not announce any price increases for April contracts.
The settlement also comes a week after initial styrene contracts were heard settled flat to a penny below the March contract prices.
Looking ahead, some producers have already announced increases of 1.00-2.00 cents/lb for May because of the 9.00 cent/gal increase in the May benzene contract.
Major North American styrene producers include Americas Styrenics, Styrolution, LyondellBasell, Total and Westlake Chemical.
($1 = €0.77)
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