05 November 2013 12:25 [Source: ICIS news]
LONDON (ICIS)--Styrolution announced on Tuesday that it is seeking a price reduction of €65/tonne for all polystyrene (PS) grades in November.
As a result, Styrolution is maintaining its high impact polystyrene (HIPS) surcharge at €105/tonne ($142/tonne) above general purpose polystyrene (GPPS).
The news follows the November European barge contract settlement of primary feedstock styrene monomer, which fell by €85/tonne to €1,365/tonne FOB (free on board) ARA (Amsterdam-Rotterdam-Antwerp).
It is too early to say where November PS prices will settle, but prices are clearly under downward pressure because of falling styrene. It appears that PS producers are looking to take advantage of the steep drop to try to bolster weak margins.
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