Some manufacturers of polystyrene (PS) are planning to reduce prices on October EUR20 per tonne, despite a greater reduction of quotations of the main raw material – styrene, ICIS reported, citing sources in the market.

Manufacturers are trying to strengthen the profitability of their business. “After propylene polypropylene prices recently rising prices (PP), which is one of the main competitors for polystyrene, can also grow, which is why we believe that we must not reduce our price any more,” – said one of the producers.

Earlier it was reported that 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.

While propylene contract price for deliveries in Europe in October, was agreed at the level of EUR725 per ton, up EUR35 above the level of September.

Polypropylene and polystyrene are widely used in the manufacture of packaging.

According to the price review ICIS-MRC, in Russia a new polystyrene contract prices will be announced this week. According to some customers, polystyrene prices in October on the spot in Russia will continue to decline.