23 October 2013 20:20 [Source: ICIS news]
HOUSTON (ICIS)--Petrobras Energia, Argentina’s main polystyrene (PS) producer, has increased prices by 2.5% for all grades of PS effective 21 October, buyer sources said on Wednesday.
The increase, confirmed also by producer’s sources, was motivated by inflation and currency devaluation.
A slightly larger increase was successfully implemented in September for the same reasons.
Availability of PS material has been tight in Argentina, curtailed by non-programmed outages at the styrene plant. Production has resumed, but inventories along the entire downstream chain have declined.
Demand is described as firm form all sectors of the market, reinforced by tight supply.
Imports from Brazil have been filling the gaps and continue to enter the country.
Prior to the October increase, general purpose polystyrene (GPPS) prices in Argentina are in the range of $2,579-2,754/tonne (€1,883-2,010/tonne) DEL (delivered), while high impact polystyrene (HIPS) prices were in the range of $2,725-2,928/tonne DEL, according to ICIS data.
($1 = €0.73)
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