US September styrene rises 1.50 cents/lb on higher benzene

11 October 2013 23:00  [Source: ICIS news]

US September styrene rises 1.50 cents/lb on higher benzeneHOUSTON (ICIS)--US September styrene contracts rose 1.50 cents/lb ($33/tonne, €24/tonne) from the August price, trade sources said on Friday.

The increase, which takes September contract prices up to 80.25-84.25 cents/lb FOB (free on board), followed the 23 cent/gal increase in the September benzene contract.

The jump in September styrene contracts also came a week after initial settlements emerged at a rollover to increases of up to 3.00 cents/lb a week earlier.

Meanwhile, October styrene contracts in the US are expected to be stable to weak, trade sources said.

Producers have not announced any price increases for October as a result of weaker benzene prices in September and a 3 cent/gal decline in the October benzene contracts, according to trade sources.

A couple of suppliers have said they were looking to roll over September contract prices into October.

A major styrene consumer added last week that it was pushing for an October decline of 2 cents/lb.

($1 = €0.74)

By: Brian Balboa
+1 713 525 2653

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