July contract prices for styrene monomer in Europe were agreed at the level of EUR1,200 per tonne, which is EUR27.5 per ton higher than the June level, ICIS buyers and sellers on the market reported on Monday.

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

The rise in prices was more or less expected after last Friday quotations for supplies for supplies in July rose to USD1,250 per ton.

However, this morning the market was even more stable, and shipping deals in the second half of July were already agreed at the level of USD1,240 per ton and USD1,280 per ton.

Some players of the European styrene market believed that the increase in July contract prices would be higher, given how the trading on the spot market developed on Monday morning, and were eventually surprised by the result of negotiating contract prices.

July bids today already reached the level of USD1,300 per ton, but there were no corresponding price offers.

Earlier it was noted that the June contract prices of styrene in Europe were agreed at EUR1 165-1 180 per tonne FOB ARA, which is EUR35-50 per ton higher than the May level.

And the May contract price of styrene monomer on the European market was agreed at the level of EUR1,130 per tonne, which is EUR245 per tonne lower than the April level. The three-digit drop in the May contract price of styrene was more or less expected. Nevertheless, the magnitude of the decline for some sources of the market was unexpectedly large. The contract price of styrene declined by a three-figure value for the second consecutive month.