LyondellBasell has settled its September Northwest European styrene monomer contract price at Eur1,398/mt FCA Rotterdam ($1,802/mt), down Eur50/mt from August, contract negotiating parties confirmed Tuesday.
The lower truck CP price follows on from a precipitous fall in barge contract for September, which was being driven down by weak demand from the polystyrene and expandable polystyrene sectors, going into the building and construction industry.
The Northwest European styrene monomer contract price was fully settled last week at Eur1,390/mt FOB ARA ($1,827/mt), down by Eur50/mt from August.
The decline was largely attributed to lower costs in September, according to CP sources.
The NWE benzene contract price for September was previously agreed at Eur1,039/mt, or $1,369/mt CIF ARA, showing a fall of Eur43/mt. NWE ethylene September CP was fully settled at Eur1,150/mt ($1,516/mt), also conceding Eur55/mt from August.
Factoring in both CPs, the composite effect on styrene was for a cost-based decline of Eur50/mt for the September CP.
– Platts.com
