05 May 2010 16:36 [Source: ICIS news]
LONDON (ICIS news)--BASF intends to raise its May polystyrene (PS) prices by €40/tonne despite the new May styrene monomer contract settling €5/tonne lower, a company source said on Wednesday, soon after the May styrene contract had settled.
Product availability was tight, particularly after INEOS NOVA’s declared force majeure on general purpose PS (GPPS) earlier on Wednesday.
“I have a feeling the styrene price won’t have much of an effect in May,” said one large buyer. “It will be supply and demand that determines prices.”
Supply had been tailored to demand for some time and most PS producers reported a tight stock position after permanent closures in the European PS industry in 2009 had left the market finely balanced.
INEOS NOVA’s Marl PS 190,000 tonne/year facility in ?xml:namespace>
Dow’s PS plant in
PS prices had increased by around €100/tonne ($130/tonne) in April, with general purpose PS (GPPS) now trading at €1,270-1,310/tonne FD (free delivered) NWE (northwest
Other producers had hinted they would be seeking an increase in spread between styrene and PS in May.
PS producers in
($1=€0.77)For more on BASF visit ICIS company intelligence
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