The contract price of styrene monomer in Europe was finally agreed at EUR995 per tonne for February deliveries, which is EUR20 per tonne higher than the level of the previous month, ICIS reported on Friday citing confirmation from three sellers and three buyers in the market.

The contract price was negotiated on delivery terms free on board (FOB) Amsterdam-Rotterdam-Antwerp (ARA).

Thus, the three agreements were reached at EUR995 per tonne, EUR1,003 per tonne and EUR1,005 per tonne. However, the majority of market participants agreed on the level of EUR995 per ton.
In particular, this price level was confirmed by two producers and two consumers, which is the minimum necessary configuration for negotiating the contract price for the current month.

This is the first time the contract price of material has risen in Europe since last September.

Earlier it was reported that the January contract price of styrene monomer in Europe was agreed at EUR975 per tonne, which is EUR15 per tonne lower than last December.

Styrene is the main raw material component for the production of polystyrene (PS).

According to the ICIS-MRC Price Review, in Russia several large sellers and processors of the Nizhnekamsk PS reported that the cost of the material did not change in February. This month is expected to increase activity in the Russian polystyrene market.