28 August 2012 23:59 [Source: ICIS news]
To reflect this change, compounding grade was assessed at €1,910-1,920/tonne FD (free delivered) NWE (northwest Europe), commercial grade at €2,150-2,270/tonne FD NWE and speciality grade at €2,380-3,090/tonne FD NWE according to ICIS.
The price increase was a result of an increase in August contract feedstock costs.
The August styrene barge contract rose by €135/tonne to €1,367/tonne because of three-digit increases in raw material costs.
As of 24 August, initial August European acrylonitrile (ACN) contracts have been settled at an increase of €155-160/tonne, several buyers and a producer confirmed. Negotiations had been delayed by summer holiday absences and are, in some cases, ongoing.
The August propylene contract price increase of €120/tonne, coupled with rises in ammonia prices – ACN’s other feedstock – mean the cost pass-through for ACN producers has been estimated by market players at up to €142/tonne.
SAN producers reported an increase in demand towards the end of August as market participants who had been absent from the market during the seasonal holiday period replenished depleted stocks.
Supply is good and product is available as and when needed.
($1 = €0.80)
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