01 February 2011 18:09 [Source: ICIS news]
Correction: In the ICIS story headlined "Styrolution targets €105/tonne increase in Europe February PS" dated 1 February 2011, please read in the second paragraph ...€1,267/tonne... instead of ...€1,276/tonne....A corrected story follows.
LONDON (ICIS)--Styrolution intends to raise its February polystyrene (PS) price by €105/tonne ($144/tonne) from January following the settlement of two monthly styrene barge styrene contracts for this month, a source with the major European producer said on Tuesday.
PS prices increased by €110-130/tonne in January, and producers had already told buyers that February prices were also likely to rise as a result of higher styrene prices.
PS buyers have had little choice but to accept price increases, as PS availability had been reduced in 2009, leading to a finely balanced market.
General purpose PS (GPPS) prices were trading at €1,450-1,480/tonne FD NWE on a net basis at medium-sized accounts.
GPPS is used widely in the food-packaging sector.
($1 = €0.73)
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