Styron targets €110/tonne increase for Europe February PS

03 February 2011 12:25  [Source: ICIS news]

LONDON (ICIS)--Styron is targeting an increase of €110/tonne ($153/tonne) for its February polystyrene (PS) business in Europe, a source with the styrenics producer said on Thursday.

Styrolution and INEOS NOVA have also made similar announcements following the styrene monomer contract settlements earlier this week.

This month's styrene barge contracts were settled on 1 February at €1,320/tonne and €1,267/tonne FD (free delivered) NWE (northwest Europe), up €105/tonne and €78/tonne from January, respectively.

A third contract was agreed on 2 February at €1,310/tonne, up €105/tonne from the previous month.

PS buyers were becoming increasingly frustrated by price hikes. They had already paid increases of €100-130/tonne in January, and general purpose PS (GPPS) prices in the distribution sector had risen to record highs of €1,450-1,480/tonne FD NWE at the end of January.

In January 2009, prices had been as low as €730-750/tonne FD NWE.

“They are killing their own market,” said one buyer.

GPPS is used widely in the food-packaging sector.

($1 = €0.72)

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By: Linda Naylor
+44 20 8652 3214

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