HOUSTON (ICIS)--Initial US March styrene contracts have settled lower - within a range of 1.00-2.50 cents/lb ($22-55/tonne) - on the back of weaker feedstock benzene prices, according to trade sources on Friday.
Suppliers had opted not to increase prices for March contracts because of the lower feedstock costs, with some saying they expected to roll prices over from February.
The March benzene contract had settled down by 14 cents/gal.
Additional March styrene contract settlements are expected to emerge next week.
Current February styrene contracts are at 85.00-89.00 cents/lb.