EniChem seeks DM0.30/kg price hike for PS by end-July

30 May 2001 15:46  [Source: ICIS news]

LONDON (CNI)--Italian chemicals producer EniChem is seeking a DM0.15/kilogram price increase for polystyrene (PS) in Europe in June and a further DM0.15/kg rise in July, according to market sources on Wednesday.

News of the planned price hikes follows a recent spate of similar announcements from other PS producers. Dow Europe is raising its prices by DM0.20/kg from 1 June and by the same amount again from 1 July. AtoFina is raising its prices by Euro100/tonne (DM0.20/kg) from 1 June and by a further Euro100/tonne from 1 July, while BASF is increasing prices by DM0.10/kg from 1 June.

Current prices for general purpose (GP) grade PS are DM1.60-1.75/kg, according to pricing service ICIS-LOR, a CNI sister company.

PS producers have also been cutting back their European PS output because of overcapacity and pressure on margins. EniChem has reduced its PS output by 25-30% in May and June, and may extend the cutbacks into July and August, sources said.

By: Anna Jagger
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly