24 July 2012 21:11 [Source: ICIS news]
HOUSTON (ICIS)--Resirene, Mexico’s largest polystyrene (PS) producer, is seeking to increase prices for all grades of PS by 10 cents/lb ($220/tonne, €180/tonne) from 1 August, a company source said on Tuesday.
The company justified the measure by citing recent volatility in petrochemical feedstock markets, particularly benzene, ethylene and butadiene rubber, which are key raw materials for PS.
Other companies have already made similar announcements, justified by the need to improve production margins.
Buyers contend that the price of styrene has not increased in the same proportion as benzene prices, although historically, styrene settlements follow the benzene path.
Current PS prices in Mexico are assessed at $1,700-1,745/tonne FOT (free on truck) for general purpose PS (GPPS), while high impact PS (HIPS) prices are at $2,013-2,103/tonne FOT.
($1 = €0.82)
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