BASF reduces Feb PS initial offer by €25/tonne

22 February 2008 20:45  [Source: ICIS news]

LONDON (ICIS news)--BASF has reduced its gross market price (GMP) for general purpose polystyrene (GPPS) by €25/tonne ($37/tonne), to €1,425/tonne, the company said on Friday.

The price refers to GPPS deliveries in February, and is heavily discounted. Most GPPS for February was trading in a range of €1,240-1,250/tonne FD (free delivered) NWE (northwest Europe), according to global chemical market intelligence service ICIS pricing.

BASF’s move was in line with February PS business, which saw an increase of €25-30/tonne across Europe.

BASF’s early February GMP was at €1,450/tonne FD NWE, up from its end-January level of €1,400/tonne FD NWE.

There were wide expectations of another increase on styrene monomer next month as spot prices were strong, and PS producers were already considering increases in the PS market.

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

($1 = €0.68)

For more on polystyrene visit ICIS chemical intelligence

By: Linda Naylor
+44 20 8652 3214

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