BASF cuts official March PS price by Euro80/mt

20 March 2006 08:51  [Source: ICIS news]

LONDON (ICIS news)--BASF has amended its March gross market price (GMP) for general purpose polystyrene (GP PS) with a cut of Euro80/tonne, the company said.

The change, disclosed on Saturday (18 March) on the company's web site, brought the GMP to Euro1,180/tonne free delivered (FD) Northwest Europe (NWE) from Euro1,260/tonne FD NWE.

The price is subject to discounts and market consensus was that the March price level initially quoted had moved well above the market level.

The price was initially intended to be valid for the whole month. However, it was not the first time that BASF had been forced to change its GMP in mid-month to bring it more in line with market movements.

A company source was not immediately available on Monday for comment on the price change for March.

Gross GP PS prices trade in the mid-Euro1,100/tonne FD NWE, according to global chemical market intelligence service ICIS pricing.

By: Linda Naylor
+44 20 8652 3214

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