Initial Europe October styrene barge agreed up €8/t at €1,418/tonne
04 October 2012 10:09 [Source: ICIS news]
LONDON (ICIS)--An initial European styrene barge contract for October has settled at €1,418/tonne ($1,818/tonne), an increase of €8/tonne from the previous month, one buyer said on Thursday.
The buyer said: "This was an extremely difficult settlement, on one hand the fall in costs of benzene and ethylene and falling spot, on the other hand the tight spot market in the last few weeks.
"Plus €8/tonne is a big compromise from all parties. One good aspect is that this settlement brings the headline price of €1,418/tonne in line with other numbers in the market, and so makes the price processes a little easier to understand."
The contract price was agreed on a free on board (FOB) Amsterdam, Rotterdam, Antwerp (ARA) basis. Further confirmation from other players is pending.
($1 = €0.78)By: Truong Mellor+44 208 652 3214
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