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ICIS lunchtime news Europe 6 November 2012
Good afternoon and welcome to the ICIS lunchtime bulletin I am Jo Pitches and here are your
top stories for Tuesday 6 November.
The European styrene barge contract for November has settled at 1,413 euros a tonne, a decrease
of 5 euros a tonne from the previous month, several sources said on Tuesday.
With the arrival of imports and a slowdown in demand ahead of year end, some downstream
sources had been expecting a larger decrease.
However, with benzene up 34 euros a tonne for November and the current month spot market
still comfortably above 1,300 dollars a tonne, this kept any downtrend somewhat muted.
In other news, BASF is investing 150 million euros in a new emissions catalysts plant in
Poland that will more than double its European capacity, the German chemicals major said
on Tuesday.
Construction work on the facility at Sroda Slaska, will begin before the end of the year
with production expected in the first quarter of 2014.
Turning to the markets, oil futures tracked gains in equity markets which edged higher
ahead of the US Presidential elections.
Those are your top stories for this lunchtime. Please join us again at the same time tomorrow
or catch up with breaking news at ICIS.com. For ICIS here in London I am Jo Pitches.