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(ICIS) -- The
European January styrene barge contract has been confirmed at EUR 1,214/tonne
(EUR 1,577/tonne), up EUR120/tonne from the previous month, as the initial
settlement received further support from players on Thursday.
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One producer involved in the agreement said it had initially pushed for
a larger increase this month in linewith raw material price rises, but conceded
that the agreement was a compromise that reflected seasonally low demand in
January.
Indeed, one downstream aromatics player had expected a much
lower increase of around EUR 80-90/tonne this month.
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Another seller said that the rise in raw material costs had to
be passed on, but added that with demand not as high as expected this month, any
larger increase might slow down consumption.
Wider economic uncertainty in
the first quarter of 2012 also figured into discussions, said the
seller.
mrcplast.com | |
