Price reduction was expected, because, according to the players, reducing the price of EUR210 per tonne in October did not reflect the real balance of the market.

The November contract price of EUR960 per tonne are significantly higher spot styrene prices which last week were USD830-850 (EUR750-780) per tonne.

One of the buyers suggests that spot prices are expected to grow during the month.

“The level of contract prices had returned to normal. Spot prices are still low, but once the stocks of raw materials are exhausted, they will go up again,” – he said.

The contract price was agreed on FOB vessel (FOB), the Amsterdam-Rotterdam-Antwerp (ARA).