US initial August styrene contracts gain on record benzene prices

07 September 2012 20:52  [Source: ICIS news]

HOUSTON (ICIS)--Initial US August styrene contracts settled up during the week by 2.50-4.00 cents/lb ($55-88/tonne, €43-70/tonne) from July on the back of the record-high August benzene contract, market participants said on Friday.

The increases were also in line with market expectations, as producers had previously announced price increases of 7.00-8.00 cents/lb.

Additional settlements are expected to emerge during the week that ends 14 September.

July styrene contracts were assessed in a range of 70.50-74.50 cents/lb.

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

($1 = €0.79)

By: Brian Balboa
+1 713 525 2653

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