Contract prices for polystyrene (PS) in Europe were agreed at EUR115 per tonne below the level of March prices, according to a downward trend in raw material prices this month, ICIS reports citing market participants.

In general, negotiations on different types of PS still continue, especially for those related to the packaging industry.

Low sales in February and March caused the expectation of strong growth in demand for PS in April, but so far sales volumes in that month were lower than expected.

At the beginning of the week, a number of April deals were agreed above USD1,400 per ton. The price increase continued during the week on the backdrop of worsening supply due to the delay in the resumption of production of a single manufacturer after scheduled maintenance, which took several weeks.

According to the Price Review of ICIS-MRC, the cost of Russian polystyrene in Russia did not change last week. Nizhnekamskneftekhim and Gazprom Neftekhim Salavat (GNS) left selling prices unchanged, despite exchange rate fluctuations.