03 October 2012 21:07 [Source: ICIS news]
HOUSTON (ICIS)--Initial US September styrene contracts have settled as rollovers to increases of 2.50 cents/lb ($55/tonne, €42/tonne) from August on the back of higher feedstock costs, trade sources said on Tuesday.
Although styrene producers did not nominate any September price increases above the August contract range of 73.75-77.75 cents/lb, they cited higher costs from benzene, ethylene and natural gas during the month.
Additional settlements are expected to emerge in the following week.
Producers are already looking to increase prices again for October contracts, following a 20 cent/gal rebound in the October benzene contract.
Major US styrene producers include Americas Styrenics, Styrolution, LyondellBasell, Total and Westlake Chemical.
($1 = €0.77)
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