Spot styrene prices in Europe continue to rise against the background of a stable price increase in Asia, ICIS reported, citing sources in the market.

After the conclusion of several transactions November 9, Wednesday, at USD1 045 per tonne level, the next day buying orders were on the level of USD1 080-1 090 per ton, and the price proposals to USD1 110 per tonne level. This November transactions were concluded at the level of USD1 080-1 085 per tonne.

As reported by the MRC before, in the early weeks of styrene quotations for November delivery were at USD1 020 per ton, while the price proposals voiced at USD1 050-1 055 per tonne level.

Styrene prices in Europe increased due to increased material quotations in Asia, where the transactions were concluded at USD1 200 at November 10 per tonne, CFR due to increased buying interest.

Stocks in China are gradually reduced, while imports from the US also decreased.

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

According to the price review ICIS-MRC, buying activity in the Russian market by the end of the SS of October and beginning of November rose, traders said. On the new polystyrene prices in November were announced last week. “Gazprom Neftekhim Salavat” is left rates unchanged. Also the prices are not revised Kirishi manufacturer Penoplex last week. Prices Nizhnekamsk PS Spot trading companies announced upward.