The August price of styrene monomer in Europe were agreed at the level of EUR1 055 per tonne, which corresponds to the level of the previous month, on Tuesday told ICIS several market sources.

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

Increasing the supply of styrene in the region with the arrival of imports from the United States led to a slight subsidence spot prices at the end of July and the reduction of consumption of plant material for the production of derivative products. Thus, spot prices in August fell below the mark of USD1 000 FOB last week.

However, the increased quotations of raw materials in August overshadowed any potential downward price trend.

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

According to the price review ICIS-MRC, the Russian market of polystyrene prices declined last week. Decrease was observed both on import and on the Russian marks SS. Traders said the reason for the lower prices on the market are the volumes of imported polystyrene arriving in Russia. Cost of import purchases in June and July dropped significantly after the fall in prices in foreign markets and the strengthening of the ruble, said one of the importers.