05 February 2014 21:31 [Source: ICIS news]
HOUSTON (ICIS)--The recent increase in feedstock benzene has led US styrene suppliers to come out with February contract price increases of 4 cents/lb ($88/tonne), according to market participants on Wednesday.
The announced February price increases come as initial US January styrene contract settlements have emerged this week at increases of 4-5 cents/lb, coming on the back of stronger feedstock benzene costs and globally tight supply.
Additional January styrene contract settlements are expected to emerge later in the week.
The initial January settlements and February price increase announcements follow December styrene contract prices, which have settled at 80.25-84.25 cents/lb FOB (free on board).
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