01 April 2011 16:45 [Source: ICIS news]
LONDON (ICIS)--Styrolution has decreased its European April polystyrene (PS) price by €55/tonne ($79/tonne), a source at the major styrenics producer said on Friday.
The move came after the settlement of just two barge styrene monomer contracts, at a fall of €80/tonne and €88/tonne respectively.
The first barge styrene contract was agreed, unusually before the benzene contract had settled, at €1,248/tonne FD (free delivered) NWE (northwest ?xml:namespace>
The second styrene contract fell by €88/tonne from its corresponding March level, settling at €1,210/tonne FD NWE.
PS prices are at a record high and buyers have been waiting for some relief for several months.
General purpose PS (GPPS) prices were trading at €1,590-1,600/tonne FD NWE at the end of March, but are now falling to €1,540-1,550/tonne FD NWE, at smaller accounts with limited discounts.
($1 = €0.70)
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