03 June 2013 10:45 [Source: ICIS news]
LONDON (ICIS)--The June European styrene barge contract has been settled at €1,414/tonne ($1,836/tonne), an increase of €14/tonne from the previous month, sources confirmed on Monday.
European styrene spot numbers saw some upward pressure last week on the back of tightness for the first half of June, although with several units coming back online amid ongoing concerns about demand fundamentals, some players argued that this should have been reflected in the settlement.
One consumer said: “The settlement once again favoured the producers on the back of low inventory and a slight tightness in the market. While costs were down, spot supported an increase on the contract.”
The contract price was agreed on a free on board (FOB) Amsterdam-Rotterdam-Antwerp (ARA) basis.
($1 = €0.77)
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