01 August 2013 20:42 [Source: ICIS news]
HOUSTON (ICIS)--Initial US July styrene contract settlements emerged this week at declines of 0.50-1.00 cents/lb ($11-22/tonne), according to trade participants on Thursday, following the 35 cent/gal drop in the feedstock July benzene contract.
The decline was also in line with some market expectations after US styrene producers did not come out with any price increases for July contracts.
June styrene contract prices were settled at 76.50-80.75 cents/lb, down 0.50 cents/lb from the previous session.
US styrene contracts have not seen an increase since January because of lacklustre demand.
However, styrene inventories in the US have seen recent tightness in July and July because of recent turnarounds.
Additional July styrene contract settlements are expected later this week and next week.
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