Movement of petrochem feedstocks in Europe

06-Aug-09

Open spec spot naphtha cargoes were assessed by ICIS Pricing at levels of US$637-647/ton CIF (cost, insurance and freight) NWE (northwest Europe) down by US$16/ton CIF NWE on the buy side of the range set at the end of trading on Tuesday. August swaps were pegged at US$637-638/tonne CIF NWE. Benzene in Europe for August were notionally up by US$15-60/ton in line with rising crude values, at US$1050-1100/ton CIF ARA (Amsterdam, Rotterdam, Antwerp). September bids were talked at US$990/ton. Styrene in Europe notionally followed movements up in line with higher benzene numbers. Firm bids were absent but prices were talked between US$1210-1240/ton FOB (free on board) Rotterdam for August and US$1150-1210/ton for September.