US styrene producers push for Nov increase on record high benzene

02 November 2012 15:34  [Source: ICIS news]

HOUSTON (ICIS)--US styrene producers said on Friday that they plan on raising November contract prices, following the record high November contract settlement for feedstock benzene earlier in the week.

November price increases of 6-7 cents/lb ($132-154/tonne, €102-119/tonne) were announced as trade participants continue to negotiate October styrene contract settlements.

October styrene contracts are expected to be finalised at an increase during the week ending on 9 November.

Producers issued price increases of about 5 cents/lb for October, following the 20 cent/gal increase in the October benzene contract.

September styrene contract prices were settled at 75.25-79.25 cents/lb FOB (free on board), up by 1.50 cent/lb from the previous month.

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

($1 = €0.77)

By: Brian Balboa
+1 713 525 2653

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