31 January 2008 17:14 [Source: ICIS news]
LONDON (ICIS news)--Polystyrene (PS) sellers are waiting for the settlement of the February styrene monomer contract price before giving price indications for February PS business, several market sources reported on Thursday.
“We will not give any indications for February PS business until we know the outcome of the styrene talks,” said a major PS producer. “It’s just too risky.”
Spot styrene was firm, and an increase was widely expected for February.
“We expect the monomer to be settled up on short supply, and not higher feedstocks,” said another PS producer on Thursday.
Spot styrene was reported at $1,400-1,415/tonne FOB (free on board) Rotterdam on Thursday, up from its early January level of $1,335-1,350/tonne FOB Rotterdam.
PS prices rose by €30/tonne in January, more or less in line with the January styrene settlement. General purpose polystyrene (GPPS) was trading at €1,230-1,240/tonne FD (free delivered) NWE (northwest Europe) on a net basis, according to global chemical market intelligence service ICIS pricing.
PS producers in Europe include BASF, Dow, Total Petrochemicals, Polimeri Europa and INEOS NOVA.
($1 = €0.67)
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