September spot prices of styrene monomer in the European market at the end of trading on September 14 remained at around USD1 260-1,290 per tonne, ICIS reported.

Thus, the September quotes for the material decreased last week by USD40 per ton compared to the level of a week ago, while the average price level now corresponds to the level of quotations registered on July 20 of the current year.

The decrease in prices was a consequence of the increased supply of styrene in the European market.

In August, material prices rose due to an unplanned stop of one of the producers, and now the quotes have returned to the same levels as before the unscheduled closure of production.

All prices are on FOB Rotterdam terms.

According to the Price Review of ICIS-MRC, the prices of Russian PS last week did not change. The market is generally balanced and the supply of material is sufficient. A sharp drop in spot prices in Europe in the last two weeks will put downward pressure on Nizhnekamskneftekhim’s selling prices next month.