Styrene Europe Transcript
The European styrene report at ICIS is a weekly report. It comes out every week on a Friday and it’s a mixture of spot and contract prices.
The spot, we look at the current month and the forward month. The contract several barge numbers are settled. They’re fairly straightforward between a buyer and a seller.
We also have the customer reference price, and that’s slightly different. It’s more of a round-robin process between several consumers and one large seller.
Now the ICIS report in Europe for styrene is the benchmark, so it’s quite widely used. A lot of people set contracts to the numbers, and it’s widely regarded as a reference.
We speak to a lot, a lot of different sized players, the big sellers all the way down to the smaller consumers. And that’s really the best way to get a comprehensive view of the market and where it is that week.