05 October 2010 10:16 [Source: ICIS news]
“We have got the styrene contracts for October and will therefore drop our PS price by €5/tonne,” said the source.
The company’s downward price move flew in the face of recent announcements for the pricing of October PS by BASF’s competitors.
October GPPS prices were trading around €1,280-1,300/tonne FD (free delivered) NWE (northwest ?xml:namespace>
PS availability had been restricted in
Demand was good and some producers said that the supply/demand balance in the market should determine the PS price, and not the styrene contract price.
On 30 September, an initial European October styrene barge contract was agreed between one pair of settlers at €1,013tonne, down €20/tonne from the pair’s September contract amid ample supply.
This was followed at the beginning of the month by a second European October styrene barge contract, which was agreed at €997/tonne, down €9/tonne from September.
PS producers in
($1 = €0.73)
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