LyondellBasell settles NWE Feb styrene CP at Eur1,448/mt, down Eur40/mt
London (Platts)--8Feb2013/830 am EST/1330 GMT
LyondellBasell has settled its February Northwest European styrene
monomer contract price at Eur1,448/mt ($2,009/mt) FCA Rotterdam with the
majority of its customers, one of the company's customers confirmed.
The February CP represents a decrease of Eur40/mt from the January
contract price of Eur1,488/mt FCA Rotterdam. The CP is settled with all
customers that it sells to via barges, vessels and trucks.
Not all of LyondellBasell's customers agreed to the number, although it
was a majority settlement, the source said. One of LBI's other customers,
Synthomer, said it did not agree to the price.
"Demand is not breaking any records at the moment, and we are hoping the
market will pick up as we move into March and April," said the source. "We
are not particularly concerned about the tightness [due to upcoming
maintenance] where we have supply contracts, there is no reason why we should
be worried. If I were a 100% spot buyer, I would be, but with demand
remaining relatively subdued and producers have contingency plans, what we
have to be careful of is talking ourselves into a problem here."
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Last Friday, the Northwest European styrene monomer February contract
price was fully settled at Eur1,448/mt ($1,976/mt) FOB ARA. The CP also
represents a fall of Eur40/mt from the January CP of Eur1,488/mt FOB ARA.
Earlier last week both ethylene and benzene February contracts were
settled, industry sources said, giving a composite cost reduction effect for
styrene of around Eur90/mt.
The NWE February benzene contract price was settled at Eur1,040/mt
($1,408/mt) FD NWE, representing a month-on-month decrease of Eur113/mt
The ethylene contract price for February was concluded at a rollover at
Eur1,275/mt FD NWE, a third consecutive monthly rollover, according to Platts
--Michelle Ho, email@example.com
--Edited by Jonathan Fox, firstname.lastname@example.org