US June styrene contract down 3 cents/lb on weaker June benzene

13 July 2012 18:28  [Source: ICIS news]

HOUSTON (ICIS)--US June styrene contracts have settled at an average decline of 3 cents/lb ($66/tonne, €54/tonne), taking prices down to 67-71 cents/lb, trade participants agreed on Friday.

The full settlements come a week after initial contract settlements were heard at declines of 2.00-3.50 cents/lb.

The initial declines were also in line with market expectations after producers opted to not announce contract initiatives.

The decline also followed June benzene contract declines of 10.00 cents/lb.

However, July styrene contracts will likely rebound following the 19.00 cents/gal increase in the July benzene contract, according to trade sources.

($1 = €0.82)

By: Brian Balboa
+1 713 525 2653

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