07 January 2014 18:20 [Source: ICIS news]
HOUSTON (ICIS)--Initial US December styrene contract settlements have come out at increases of 4.50-5.00 cents/lb ($99-110/tonne) from November this week on the back of stronger feedstock benzene, according to trade sources on Tuesday.
The initial increase were in line with supplier price nominations of 5 cents/lb, following the 38-39 cents/gal increase in the December benzene contract.
November styrene contract prices were settled at 75.75-79.75 cents/lb FOB (free on board).
The styrene increase also comes alongside tight supply availability.
Shell Chemicals was on force majeure on styrene out of its facility in Alberta, Canada, in December, while Styrolution remains on a 65-day shutdown at its Texas City facility, which began in November.
Styrolution’s Texas City facility is expected to be back on line by mid-January.
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