08 February 2013 22:56 [Source: ICIS news]
HOUSTON (ICIS)--US January styrene contracts settled up by 2.50 cents/lb ($55/tonne, €41/tonne) from the previous month, following the record-high feedstock benzene contract price of $5.16/gal.
The increase took January styrene contract prices to 81.75-85.75 cents/lb FOB (free on board), following initial contract settlements heard at week earlier.
The January contract price was also in line with market expectations, as suppliers had come out with January contract price increases of 4-6 cents/lb, based on the January benzene price.
For February, only one producer has issued a price increase of 2 cents/lb. Other suppliers have said they were pushing for rollovers.
Other trade participants and some consumers said they were expected a rollover or slight decline for the February styrene contract, based on the lower February benzene contract settlement.
($1 = €0.75)
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