The contract prices of expandable polystyrene (PSV-C) in Europe increased by EUR40 per tonne in June compared to the level of prices in May against the backdrop of rising raw material prices and high demand, ICIS reports citing market participants.
The contract price of benzene in Europe for supplies in June was agreed at the level of EUR60 per tonne higher than the level of the May price.
The demand for PSV-S was generally high this year, despite the fact that some buyers were expecting higher levels of consumption. Purchasing activity in the construction sector was quite high, as the construction season comes into full force.
Many players expect that in July, prices for styrene will be higher than in June on the background of a weakening of spot prices and the growth of market activity. A slight weakening of the euro against the dollar could potentially limit any significant price reduction.
According to the Price Review of ICIS-MRC, in Russia, against the backdrop of a sharp decline in the cost of styrene monomer in China, the most likely is the prolongation of the current price level of Russian PSV-S producers in the next month. The cost of PSV-C production of plastic (Uzlovaya) in June is at the level of 106000-111500 rubles. per ton, CPT Moscow, including VAT. The material produced by Sibur-Khimprom is sold at 112,000-116,000 rubles. per ton, CPT Moscow, including VAT.