27 July 2010 17:14 [Source: ICIS news]
For EPS, Erste lifted its product/feedstock margin forecast for Synthos’s Polish unit, Synthos Dwory, to €478/tonne ($621/tonne) from €345/tonne; for Synthos’s Czech unit, Synthos Kralupy, it increased the forecast to €521/tonne from €355/tonne.
The company’s PS products were set to achieve a good performance across 2010 as a result of strong demand from the food sector and with “western European food producers still focusing on cheaper suppliers from central and eastern Europe”, added Erste analyst Tomasz Kasowicz.
For PS, the bank increased the product/feedstock margin forecasts for the two units to €337/tonne from €307/tonne and to €380/tonne from €317/tonne, respectively.
Synthos was not only enjoying a good year in styrenics, added Kasowicz, noting how the company, which is Europe’s second-largest synthetic rubber producer, was also benefiting from a synthetic rubber product/feedstock margin “explosion” as a result of skyrocketing butadiene prices and almost flat ethylbenzene prices.
($1 = €0.77)
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