The European contract price of polystyrene (PS) on average in October was reduced by EUR45 per tonne, which is almost in proportion to the reduction in prices of the main raw material – styrene, ICIS reported, citing market sources.

October European contract prices of PS were at the level of EUR1 855-1 975 per ton, FD EU for general purpose polystyrene (PSS / M) and EUR1 945-2 065 per ton, FD EC for high-impact polystyrene (HIPS / M).

The market is now waiting for the November negotiation of contract prices of styrene level of October or slightly higher. Market participants have different opinions on PS demand prospects in November. On the one hand they describe as a weak demand, but on the other hand demand may increase against the background of a fire at BASF facilities in Ludwigshafen.

As reported earlier MRC, the October contract prices of styrene monomer in Europe were agreed at the level of EUR985 per ton, to EUR50 per tonne lower than the previous month.

According to the price review ICIS-MRC, in the Russian polystyrene 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 the prices of the monomer 5 000 rubles. per ton.