Spot styrene prices in Europe last week fell to its lowest level in comparison with other regions on the background of the wide availability, according to ICIS, citing sources in the market.

Styrene for deliveries in September in Europe on September 9 sold at USD962 per tonne level. At the same time sellers are trying to sell at USD980 per tonne and buyers insisted on the prices in a price range USD960-965 per ton.

styrene prices on the northern coast of the Gulf of Mexico in the United States were slightly above USD990 per ton at the end of last week. In the Monday, September 12, spot styrene prices in Asia were at the level of USD1 020-1 030 per ton, FOB Korea.

According to the European traders, sellers want to send styrene volumes for export to Asia, but they point out the complexity of the timing of deliveries and freight.

In the last European spot prices fell below the Asian and US in January 2015, when contract prices fell by EUR290 per ton due to lower benzene and crude oil quotations.

Export deliveries of styrene in Asia grow. Thus, exports of styrene deliveries from the US to South Korea in the first seven months of 2016 amounted to 236.7 thous. Tons, which is 189% higher compared to the same period a year earlier.

Styrene is a key raw material for the production of polystyrene.

Coglasno price review ICIS-MRC, the Russian production of polystyrene prices this week continued to decline. Some manufacturers have gone for a fall on background of cheaper prices of styrene in September. The winning bid of general purpose polystyrene production of “Gazprom Salavat neftekhim” of 82 000 rubles. per tonne, CPT Moscow, including VAT. For one price selling brand PSM and PSM-E-115. High impact grade polystyrene production of “Gazprom Salavat neftekhim” offered on the market at the price of 89,000 rubles. per tonne, CPT Moscow, including VAT.