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European styrene values have risen by almost USD 100

July 19/2011

(ICIS) -- Despite the onset of a slump in demand due to the traditional summer holiday slowdown, European styrene values have risen by almost USD 100/tonne (EUR 71/tonne) in July as firming aromatics numbers in Asia and the US and upcoming turnarounds prompted an upturn in pricing, sources said on Tuesday.

Despite a predicted drop in July barge contracts on the back of lower feedstock costs, spot values have steadily gained as the month has progressed.

The midpoint of July deals during the first week of the month was USD 1.355/tonne, according to ICIS data. Bids and offers for July were at USD 1.440Ц1.450/tonne FOB (free on board) Rotterdam on Tuesday morning, with August at a USD 20/tonne contango.

One European trader said that the upwards movement on styrene was largely coming from higher benzene prices.

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