Styron reduces target for Europe November PS to plus €70/tonne

29 October 2010 14:56  [Source: ICIS news]

LONDON (ICIS)--Styron has reduced its original target of plus €100/tonne ($139/tonne) for November polystyrene (PS) in Europe, to plus €70/tonne, in light of easing styrene monomer prices, a company source said on Friday.

A first November styrene barge monthly contract was settled on Friday at an increase of €44/tonne, at €1,057/tonne FD (free delivered) NWE (northwest Europe).

PS prices had largely rolled over in October, despite attempts by some producers to increase them. General-purpose PS (GPPS) was trading at around €1,300/tonne FD NWE on a net basis by the end of October.

Demand was good and availability was tight, exacerbated by the declaration of force majeure by Total Petrochemicals.

Sources reported that the company had been having difficulty bringing styrene to its PS production unit in France, but the French producer declined to comment.

Other PS producers waited for styrene to settle fully before announcing plans for November PS but there was a growing feeling in the PS industry that it was the supply/demand balance that would determine pricing, rather than the upstream costs.

Buyers acknowledged that there could be upward pressure for November PS as availability was tight.

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

($1 = €0.72)

For more on PS visit ICIS chemical intelligence
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By: Linda Naylor
+44 20 8652 3214

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