03 September 2012 15:31 [Source: ICIS news]
LONDON (ICIS)--An initial European styrene barge contract for September has settled at €1,410/tonne ($1,785/tonne), up €43/tonne from the previous settlement, one seller and two buyers said on Monday.
According to a consumer involved, the settlement is line with expectations, and above costs.
“This is in line with expectations from our side,” said one European styrene buyer. “We think it is a fair settlement, spot has really led the push.”
A seller said: “We are quite satisfied. This will bring us some additional margin, and bring us into a more healthy territory. It is better for the industry.”
The contract price was agreed on a free delivered (FD) northwest Europe (NWE) basis. Further confirmation from other players is pending.
($1 = €0.79)
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