The base contract price of styrene monomer for consumers in the European market was agreed at EUR1,042 per tonne for June deliveries, which is EUR143 per tonne lower compared to the level of the previous month, one of the manufacturers told ICIS on Friday.
The basic May contract price for buyers was agreed on the terms of delivery FCA Rotterdam.
Thus, the basic June contract price of styrene for consumers in Europe was set in full accordance with the amount of lowering the June contract price of material, which was agreed earlier this month.
The May base contract price of styrene in Europe was approved at EUR1,185 per ton, which is EUR35 per ton higher than the April price.
Styrene is the main raw material component for the production of polystyrene (PS).
Russian plants have reduced the cost of polystyrene (PS) in the current month under pressure from foreign markets and declining cost of raw materials. For most market participants, a sharp decline in the cost of the polymer was unexpected. The market leader, Nizhnekamskneftekhim, has reduced the cost of polymer by a larger amount than other plants.