BASF to lower October polystyrene price by €5/tonne

05 October 2010 10:16  [Source: ICIS news]

LONDON (ICIS)--BASF will lower its price of polystyrene (PS) in October by €5/tonne ($7/tonne), with immediate effect, a source with the German petrochemical major confirmed on Tuesday.

“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.

INEOS NOVA announced a €30/tonne increase in the price of October general purpose PS (GPPS) and Dow Chemical aimed to increase its price by a similar amount.

October GPPS prices were trading around €1,280-1,300/tonne FD (free delivered) NWE (northwest Europe).

PS availability had been restricted in Europe after some permanent closures in 2009.

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.

A third Europe October styrene barge contract was agreed on 4 October at €981/tonne, down €11/tonne from the previous month.

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 Europe include BASF, Styron, Total Petrochemicals, INEOS NOVA and Polimeri Europa.

($1 = €0.73)

For more on polystyrene visit ICIS chemical intelligence
For more on BASF visit ICIS company intelligence
To discuss issues facing the chemical industry visit ICIS connect

By: Linda Naylor
+44 20 8652 3214

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