London — Feedstock costs for European styrene in January fell 4.5% month on month, according to the most recent S&P Global Platts data.
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The decline was calculated based on the latest benzene and ethylene contract price settlements for January.
The ethylene contract price was settled at Eur1,057/mt ($1,275.50/mt), at a rollover, while the benzene contract was settled at Eur792/mt or $945/mt, down Eur55/mt or $57/mt.
Based on an industry estimated calculation of 0.29 ethylene and 0.79 benzene to produce ethylbenzene, a precursor of styrene, costs were estimated at Eur932/mt for January.
The styrene contract price for January is expected to settle Wednesday.
The European styrene spot price reversed gains seen in mid-December.
The 5-30 day forward spot price was last assessed at $1,259.50/mt FOB ARA Friday, down from $1,265/mt on December 1.