02 January 2013 15:34 [Source: ICIS news]
LONDON (ICIS)--An initial European styrene barge contract for January has settled at €1,488/tonne ($1,958/tonne), an increase of €60/tonne from the previous month, one buyer said on Wednesday.
“It is a hard month but the derivative market needs to show strength in demand after the Christmas break, and we expect higher prices to come in the run up to outages at the end of the first quarter,” the buyer said.
“So a number just over costs is compromise reached,” it added.
The contract price is agreed on a free on board (FOB) Amsterdam-Rotterdam-Antwerp (ARA) basis. Further confirmation from other players is pending.
Two producers and two consumers need to confirm the contract price for it to fully settle.
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections