13 September 2013 23:03 [Source: ICIS news]
HOUSTON (ICIS)--US August styrene contracts have settled this week at an increase of 1 cent/lb on average from the previous month, taking prices to 78.75-82.75 cent/lb ($1,736-1,824/tonne, €1,302-1,368/tonne), according to market participants on Friday.
The increase was in line with initial settlements at 1-2 cents/lb higher the past two weeks and was attributed to stronger feedstock benzene costs and tight supply.
The August settlement also represented the second consecutive monthly increase.
Producers have already issued contract price increases for September at 3-4 cents/lb on the back of stronger benzene prices and tight supply expectations.
($1 = €0.75)
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