Europe April styrene CRP settles down by €61/tonne

15 April 2013 09:55  [Source: ICIS news]

LONDON (ICIS)--The European April styrene customer reference price (CRP) has settled at €1,413/tonne ($1,859/tonne), down €61/tonne from the previous month, the seller involved said late on Friday.

The settlement was confirmed by several other sources this morning.

One buyer involved in the negotiation process said that it had been holding out for a settlement closer to €1,400/tonne in April, but the barge contract agreement done earlier in the month at €1,411/tonne on a free on board (FOB) Amsterdam Rotterdam Antwerp (ARA) basis made this increasingly difficult.

The buyer added that it would look to recover margin next month, and expects that ethylene will come off significantly again in May.

The contract was agreed on a free carrier (FCA) Rotterdam basis.

($1 = €0.76)

By: Truong Mellor
+44 208 652 3214

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