03 March 2011 16:22 [Source: ICIS news]
Only one styrene monomer barge contract has been settled for the month and another producer was waiting for at least one other before announcing plans for March.
Three styrene settlements have been typical for the upstream monomer market in recent months.
The sole styrene monomer contract to settle so far for was done on Wednesday 2 March, at €1,359/tonne FD (free delivered) NWE (northwest Europe), up by €39/tonne.
General purpose PS (GPPS) prices were trading around €1,600/tonne at the end of February and buying sources generally expected to be paying increases this month.
“It will be difficult to avoid this increase,” said one buyer, “the balance is in their [producers’] favour.”
PS supply had been curtailed in 2009 as several plants were permanently closed for commercial reasons and since then producers had managed to recover upstream styrene increases and even add some margin to their PS prices.
GPPS is used widely in the food packaging industry.
($1 = €0.72)
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