09 January 2014 20:39 [Source: ICIS news]
HOUSTON (ICIS)--US styrene market participants are looking at a potential increase of 4-5 cents/lb ($88-110/tonne) for January contracts, based on globally tight supply and strong feedstock benzene costs, sources said on Thursday.
Styrene suppliers announced January price increases of 5 cents/lb early in the month, while initial December styrene contracts were being settled at increases of 4.5-5.0 cents/lb. The December contract has not reached a full settlement.
The December price increases were above November prices of 75.75-79.75 cents/lb FOB (free on board).
For the January contract, one styrene consumer said that it expected a price increase of 4 cents/lb was more likely.
The stronger styrene prices come with Shell Chemicals still on force majeure for styrene out of its facility in Alberta, Canada, while Styrolution's Texas City facility remains on a 65-day shutdown, which began in November.
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