06 December 2012 10:00 [Source: ICIS news]
LONDON (ICIS)--The European December styrene customer reference price (CRP) has settled at €1,433/tonne ($1,886/tonne), up €15/tonne from the previous month, the seller and several of the buyers involved said on Thursday.
The increase was in line with the barge movement this month, reflecting weaker demand as the holiday season approaches despite the €52/tonne increase on benzene.
One of the buyers said that the producer was initially looking for an increase to better reflect the higher upstream costs this month, but felt that the €15/tonne movement in line with the barge number was a fair settlement in the end.
The contract was agreed on a free carrier (FCA) Rotterdam basis.
($1 = €0.76)
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