US April styrene falls 1 cent/lb on lower benzene

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)

By: Brian Balboa
+1 713 525 2653

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