04 March 2013 16:02 [Source: ICIS news]
LONDON (ICIS)--The European March styrene customer reference price (CRP) has settled at €1,474/tonne ($1,914/tonne), up €26/tonne from the previous month, the seller involved and several buyers confirmed on Monday.
In relation to the settlement, a buyer said: “We agreed at plus €26/tonne. The increase was based on raw materials benzene and ethylene”.
A second contract settler on the buying side also confirmed that the increase was feedstock driven.
The styrene barge contract prices also moved up by €27/tonne to settled at €1,475/tonne free on board (FOB) Amsterdam-Rotterdam-Antwerp (ARA). The increase too reflected the higher raw material costs of benzene and ethylene.
The CRP contract was agreed on a free carrier (FCA) Rotterdam basis.
($1 = €0.77)
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