Styrene-monomer stocks in the eastern region of China are already declining for the second consecutive week due to a decrease in cargo volumes in ports, ICIS reported citing official data received on Wednesday.

The total stock of material fell to 58.3 thousand tons, which is 14.4 thousand tons less than last week. The volume of styrene delivered to the ports amounted to 13 thousand tons, while the consumption of material by processors was at the level of 27.4 thousand tons, according to ICIS.

According to the source of the market, the decline in styrene stocks was supported by domestic prices this week.

Prices of styrene on Monday in East China were 9,950-10,000 yuan (CNY) or USD1,500-1,507 per ton, on Tuesday they rose to CNY10,000-10,020 or USD1,507-1,510 per tonne, and on Wednesday morning , according to ICIS, the price offers increased to about CNY10,100 or USD1,522 per tonne.

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

According to the Price Review of ICIS-MRC, in the Russian market the demand for PS is good. A major seller of the material produced by Gazprom Neftekhim Salavat (SOT) noted that the material is not currently held in stock, and prices have not changed over the past two weeks. A smaller trader selling Salavat material noted that in the second decade of the month prices for STS material increased by an average of RUB 1,000. per ton. On the products of Nizhnekamsneftekhim, according to some market participants, large sellers, on the contrary, can give a discount of 1,000 rubles. per ton. This leads to a reduction in the price difference between the products of the two manufacturers. Several large market participants expressed the opinion that the cost of the material on the market at the moment is balanced. Prices of Russian material in November, in the current situation on the market, in their opinion, will not change.