March PS prices up by 3% in Argentina

07 March 2008 00:08  [Source: ICIS news]

HOUSTON (ICIS news)--Argentina’s Petrobras Energía said on Thursday that it had increased price increases for all grades of polystyrene (PS) by Argentine pesos (Ps) 200/tonne ($63.5/tonne) were being implemented effective 1 March.

Market sources had received notice a week earlier, but implementation started in full this week, a source said. The measure will increase prices by about 3%.

The increases were expected because of the latest run-up in crude prices, which have been above the $100/bbl level in recent days. On Thursday, West Texas Intermediate (WTI) closed at $105.47 in another volatile trading session.

Prices for benzene and styrene monomer, the main raw materials for PS, have also gone up in 2008, affecting production margins throughout the petrochemical chain.

Before the March increase, prices for general purpose PS (GPPS) were at $2,003-2,147/tonne, according to global chemical market intelligence service ICIS pricing. Prices for high impact PS (HIPS) were slightly higher at $2,020-2,166/tonne.

Export prices were also headed up. Buyers in Chile were seeing price increases of about $40/tonne for all grades of polystyrene coming from Argentina.

($1 = Ps3.15)

For more on polystyrene visit ICIS chemical intelligence

By: George Martin
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