The November price of styrene monomer in Europe were agreed at the level of EUR1 025 per tonne, which is EUR40 per tonne higher than the previous month, on Monday told ICIS market sources.

The contract price was agreement on terms of delivery FOB (of FOB) Amsterdam-Rotterdam-Antwerp (Ara).

Several market players expect an increase in the contractual styrene quotations for November delivery, and another market participant involved in the price negotiations, he said that, while prices rose in October, the global dynamics may change in the current month.

It was noted earlier that the October contract prices of styrene monomer in Europe were agreed at the level of EUR985 per tonne FOB ARA, which is EUR50 per tonne below the level of September. In September, the prices have been agreed at the level of EUR1 035 per tonne, which is below the EUR20 per tonne in August.

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

According to the price review ICIS-MRC, PS prices in the spot market in Russia are growing in connection with the situation in the styrene market. Market players said the increase in the purchase price of styrene in Russia (in connection with the monomer production stoppage at the facilities of the plant Sibur-Khimprom) and foreign markets (Europe and Asia). One of the buyers of styrene monomer in the domestic market of Russia announced the increase of the production of styrene contract prices, “Gazprom Neftekhim Salavat” for November shipment. According to the source, the company will raise prices for the monomer 5 thousand. Rub. per ton. styrene price increase will significantly affect the cost of production of polystyrene. In turn, polymer producers will revise prices upwards, said a source on the market.