BASF reduces Europe November PS by €20/tonne

23 November 2007 10:30  [Source: ICIS news]

LONDON (ICIS news)--BASF has dropped its November polystyrene (PS) price €20/tonne ($30/tonne) to €1,375/tonne, the company said on its website on Friday.

The gross market price (GMP) for general purpose PS (GPPS) was moved down to €1,375/tonne FD (free delivered) NWE (northwest Europe) to reflect current business, a company source explained earlier.

The GMP is heavily discounted and seen as a general reference price in the market as opposed to a working price. It is closely watched by the market, however, as the extent of the monthly movement is seen as relevant.

Most sources reported net GPPS prices to be around the €1,200/tonne FD NWE mark, according to global chemical market intelligence service ICIS pricing.

PS prices fell in line with upstream styrene monomer in November, but producers reported a fine supply-demand balance and several were already talking of increases for December, regardless of any possible moves in the styrene monomer.

PS producers in Europe include INEOS NOVA, Dow, Total Petrochemicals and Polimeri Europa.

($1 = €0.67)

By: Linda Naylor
+44 20 8652 3214

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