Europe April styrene barge CP confirmed at €1,411/tonne

LONDON (ICIS)–The European styrene barge contract price for April has been confirmed at €1,411/tonne ($1,809/tonne), a decrease of €64/tonne from the previous month, as the initial settlement received further support from players on Tuesday.

The styrene market was increasingly stagnant towards the end of March, with weakening global benzene and lower than expected European demand weighing down on domestic sentiment.

There is an expectation that April could see more buyers in the market as demand picks up and the turnarounds begin to have a more pronounced effect on availability.

However, one of the consumers involved in the settlement said that the settlement at €1,411/tonne was higher than it initially wanted, as it is looking to recover some of the lost spread from earlier in the year.

The contract price was agreed on a free on board (FOB) Amsterdam Rotterdam Antwerp (ARA) basis.

($1 = €0.78)