Manufacturers in the European market of polystyrene (PS) agree on the June contract prices for EUR30-60 per tonne higher than in the previous month amid declining demand, sources told ICIS market.

However, some buyers said that they agreed on several earlier contracts at the same price as in May, or at higher than last month’s prices, but the increase was below the announced prices above the increase in the SS.

Meanwhile, other market participants are still in the process of negotiation of contract prices for the current month.

One buyer said: “Approval of the June contract prices for styrene EUR60 per tonne higher than in May quotations can be attributed to the factor of bad luck, because a few days later, spot prices began to decline sharply.”

Demand in the market is not as good as in the period from February to May, which was mainly caused by a drop in exports to countries such as Turkey, where European producers are in direct competition with Asian suppliers that received a significant advantage due to lower quotations of styrene in June .

Prices of European general purpose polystyrene (PSS / M) in the last week, taking into account rising EUR30 per ton have been reported to EUR2 100 000-2 level per tonne FD Europe, while the prices of high-impact polystyrene (HIPS / M) were at the level of EUR2 090-2 210 FD Europe.

According to the price review ICIS-MRC, the spot market of the Russian SS last week remained stable after a decline in prices at the beginning of the month. Prices of Russian MSS / M voiced in the hallway 000-112 98 000 rubles. per tonne CPT Moscow, including VAT. Quotes COC / M Russian production voiced in the corridor 102 000-111 400 rubles. per tonne CPT Moscow, including VAT.