The contract price of styrene monomer in Europe was agreed at EUR975 per ton for January deliveries, which is EUR15 per ton lower compared to the previous month, ICIS reported, citing confirmation from three sellers and three buyers in the market.

The contract price was agreed at the levels of EUR970, EUR975 and EUR980 per ton, and in accordance with the ICIS methodology, it was set at an average level of EUR975 per ton.

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

Earlier it was reported that the contract price of styrene monomer in Europe was agreed at the level of EUR990 per ton for December deliveries, which is EUR150 per ton lower compared to the level of the previous month.

The contract price of ethylene in Europe for January deliveries was finally agreed at EUR985 per tonne, which is EUR40 per tonne lower than December, ICIS reported.

The contract price was approved under the terms of FD NWE (with delivery to North-West Europe).

Three manufacturers and two buyers directly confirmed this price. Direct confirmation from other manufacturers is pending.

This is the fourth consecutive ethylene price reduction, and for the first time its value has dropped below September 2017.

Earlier it was reported that the contract price of ethylene in Europe for December deliveries was finally agreed at the level of EUR1,025 per tonne, which is EUR110 per tonne lower than the level of November.

The contract price of propylene in Europe for January deliveries was agreed at EUR925 per tonne, which is EUR35 per tonne lower than December, participants in the contract market told ICIS.

The contract price was approved on delivery terms FD NWE (with delivery to North-West Europe).

This contract price was directly confirmed by three manufacturers and two buyers of the material.

During December, the prices of naphtha raw materials continued to decline, so prices in January dropped as expected, for the third time in a row.

Demand in January has traditionally increased, but players’ opinions are ambiguous as to how long the current oversupply will last, especially with the approach of the season of scheduled repairs of cracking units in 2019.