06 March 2013 23:21 [Source: ICIS news]
HOUSTON (ICIS)--Initial US February styrene contracts have settled at a rollover of 81.75-85.75 cents/lb ($1,802-1,890/tonne, €1,388-1,456/tonne) during the week following stable to weaker feedstocks in February, according to trade participants on Wednesday.
The initial settlements were in line with some market expectations, as a majority of producers opted not to increase contract prices and push for a rollover. Only one supplier issued a price increase of 2 cents/lb.
Buyers and other trade sources said they were expecting a rollover or slight decline for February, based on the flat February feedstock ethylene contract settlement and the lower February benzene contract settlement.
Additional February styrene contract settlements are expected later this week.
($1 = €0.77)
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