04 December 2012 11:26 [Source: ICIS news]
LONDON (ICIS)--An initial European styrene barge contract for December has settled at €1,428/tonne ($1,855/tonne), an increase of €15/tonne from the previous month, one buyer and one seller confirmed on Tuesday.
While there was continued upward pressure from benzene following a €52/tonne increase for December, demand from the key styrenics sectors is seasonally weak.
“It is a fair settlement,” said one styrene trader, who had previously expected a number closer to €1,430/tonne. “December is a difficult month for producers; from about the 18th onwards they cannot really sell directly to consumers.”
The contract price was agreed on a free on board (FOB) Amsterdam-Rotterdam-Antwerp (ARA) basis. Further confirmation from other players is pending.
($1 = €0.77)
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