The contract price of styrene monomer in Europe was agreed at the level of EUR1,345 per tonne for June deliveries, which is EUR60 per ton higher than the level of the previous month, ICIS reported citing confirmation from two sellers and three buyers on the market.

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

Earlier it was noted that negotiations on contract prices of styrene for June deliveries to Europe were postponed at the end of last week before the beginning of this week due to public holidays.

As reported by MRC, the May contract price of styrene monomer in Europe was agreed at the level of EUR1,285 per tonne, which is EUR40 per ton lower compared to the level of the previous month.

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

According to the Price Review of ICIS-MRC, the European spot price of styrene changed insignificantly last week. Next month, the contract price of monomer in Europe is likely to grow within EUR30-50 per ton.