European May Styrene Contract Price Fully Settled at Eur1,285/Mt, Down Eur40

The European May styrene contract price has been fully settled at Eur1,285/mt, down Eur40 on the month.<br />The contract price was confirmed Wednesday by two sellers, with one seller confirming that he had settled with multiple buyers.<br />A contract price is considered fully settled when two independent buyers and two independent sellers agree on the...

The European May styrene contract price has been fully settled at Eur1,285/mt, down Eur40 on the month.

The contract price was confirmed Wednesday by two sellers, with one seller confirming that he had settled with multiple buyers.

A contract price is considered fully settled when two independent buyers and two independent sellers agree on the same contract price level.

Volatility in styrene spot prices in April had led to mixed expectations for the May styrene contract.

Feedstock costs rose marginally as the May benzene contract settled at $858/mt or Eur711/mt, down $12 or up Eur9, and the ethylene contract settled up Eur20 at Eur1,087/mt.

The styrene spot market is in a steep backwardation. S&P Global Platts Tuesday assessed May and June prices at $1,395/mt and $1,310/mt, respectively, pointing to a backwardation of $85.

Source: www.platts.com