Spot prices of styrene monomer in the European market continues to grow at the current week against the background of the expected further material supply constraints in the global markets, sources told ICIS market.

So, after styrene quotation last week were at USD1 230 per tonne FOB, price offers and transactions for February 9 January ranged USD1 250-1 275 per tonne. Later the deal voiced at USD1 275 per tonne level or USD1 280 per tonne, and the proposals for February delivery rose to USD1 300 per tonne.

Price promotions on the same January delivery at the beginning of the week were at USD1 240-1 260 per tonne level, but also began to grow later.

10th of January at the Asian market rates further increased, which resulted in an increase in styrene prices in Europe. Transactions in January concluded at USD1 260 per ton, while the price proposals ranged USD1 290-1 300 per tonne. On February delivery price offers were USD1 290-1 310 per tonne level.

Given the fact that several factories for the production of styrene on the coast of the Gulf of Mexico should be closed for scheduled preventive maintenance, European players are expected to decrease in volume of imports from the United States.

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

According ScanPlast MRC, for eleven months of 2016, imports of polystyrene in Russia increased. Thus, imports of general purpose polystyrene (PSS / M) and high impact polystyrene (HIPS / M) in Russia grew by 23% to 43.75 ths. Tons. Among import suppliers about 52% from the brand MSS / M and COC / M Stirolution production. In January-November 2016 imports Stirolution increased by 17%, amounting to 22.5 thousand. Tonnes.