The contract price of styrene monomer in Europe was finally agreed at EUR1,065 per tonne for October deliveries, which is EUR21 per tonne lower than the level of the previous month, ICIS reported.

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

So, in the European market, two approvals were reached at the October contract price for the material at the levels of EUR1,063 and EUR1,066 per ton from the parties to the contract negotiations.

Since June, ICIS has been applying a new methodology for calculating the contract price of styrene based on the arithmetic average of all transactions concluded.

Earlier it was reported that the contract price of styrene monomer in Europe was finally agreed at EUR1,086 per tonne for September deliveries, which is EUR59 per tonne higher than the level of the previous month.

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

According to the ICIS-MRC Price Survey, in Russia last week, market participants were waiting for approval of the cost of Nizhnekamsk substation for the next month. Opinions were divided from maintaining prices at the level of September to an increase of 3,000 rubles. per ton.