Initial Europe December styrene up €15/tonne at €1,428/tonne

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)

By: Truong Mellor
+44 208 652 3214

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