02 May 2013 15:58 [Source: ICIS news]
LONDON (ICIS)--The European May styrene customer reference price (CRP) has settled at €1,405/tonne ($1,848/tonne), down €8/tonne from the previous month, the seller and several buyers involved confirmed on Thursday.
“We were looking for a reduction this month,” said one of the buyers. “Spot numbers came down in April.”
The seller said it had initially been looking for an increase in May following a €64/tonne rise in the monthly feedstock benzene contract price, but that the quick settlement of the styrene barge contract this morning at €1,400/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp) subsequently influenced talks.
The contract was agreed on a free carrier (FCA) Rotterdam basis.
($1 = €0.76)
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