04 September 2013 21:10 [Source: ICIS news]
HOUSTON (ICIS)--Although August US styrene contracts have not settled yet, producers have already issued price increases for September, market participants said on Wednesday.
Supplier price increases for September were announced at 3-4 cents/lb ($66-88/tonne, €50-67/tonne) during the week, following the recent 23 cent/gal increase in the September feedstock benzene contracts due to planned turnarounds for the next two months.
Current July styrene contracts are at 77.75-81.75 cents/lb FOB (free on board).
Initial August styrene contracts are expected to emerge this week.
Only one supplier has confirmed an August price increase of up to 2 cents/lb.
Market sentiment has been mixed for August styrene contracts, as some sources have said an increase might be difficult with downstream polystyrene (PS) prices recently moving down.
($1 = €0.76)
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