US July styrene contracts jump 3.5 cents on benzene costs

10 August 2012 19:22  [Source: ICIS news]

HOUSTON (ICIS)--US July styrene contracts settled up by 3.50 cents/lb from June on the back of the increase in the July benzene contract, market participants said on Friday.

The July styrene contract was assessed in a range of 70.50-74.50 cents/lb ($1,554-1,642/tonne, €1,259-1,330/tonne).

The July increase surpassed price increase nominations of 3 cents/lb.

The July contracts rose from June levels of 67-71 cents/lb, producers said.

The July US benzene contract had settled at $4.30/gal, up 19 cents from the June contract following heavy buying on tight supply positions.

Styrene producers are also looking to raise prices again for August contracts, and have already issued increases of 7-8 cents/lb, based on the 30 cent/gal increase in the August benzene contract.

Major US styrene producers include Americas Styrenics, Styrolution, LyondellBasell, Total and Westlake Chemical

($1 = €0.81)

By: Brian Balboa
+1 713 525 2653

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