US April styrene contract moving down on weaker benzene

02 May 2014 23:30 Source:ICIS News

HOUSTON (ICIS)--US April styrene contracts are moving down, following the recent declines in feedstock benzene prices, according to trade sources on Friday.

Some early April styrene contracts have settled in early April at declines of 2.50 cents/lb ($55/tonne) from the March contract price of 83-87 cents/lb FOB (free on board).

Other April styrene contract settlements, which have settled at the beginning of May, have also emerged at declines of 1.00-2.00 cents/lb.

The initial declines were also in line with market expectations, as suppliers opted not to seek increases for April, following the 15 cent/gal drop in the feedstock benzene contract for April.

Additional April styrene contract settlements are expected to emerge next week.

By Brian Balboa