NOVA Chemicals, one of the world’s largest producers of polyolefins,
plans from 1 February to increase the price of expanded polystyrene (EPS C) Styropek 5 cents per pound (USD110 per ton), ICIS reported, citing a letter from the manufacturer to customers.

The price increase will affect PSV-C for the modified and conventional brands, as well as food brands of EPS for the production of cups.

NOVA Chemicals, along with all the major manufacturers of EPS in North America has announced the price increase from December 15, and 5 cents per pound (USD110 per ton) against the background of growth of commodity components.

Spot styrene prices have risen sharply due to recent cuts of several productions in the United States. In the period from 12 October to 16 December styrene spot prices rose 12.23 cents per pound (USD270 per ton).

As reported earlier MRC, meskikansky manufacturer of EPS Styropek also announced a price increase of 5 cents per pound (USD110 per ton) from 1 February 2017.

Canadian manufacturer of EPS Nexkemia plans to raise prices by 5 cents per pound (USD110 per tonne) from 15 January.

According to the price review ICIS-MRC, in the Russian demand for PSV-C market last week, it remained very low. Market players do not expect a good sale this week. The upcoming holidays and the lack of activity in the construction sector negatively wag on demand. Quotes Asian PSV-C is also stable. Trading companies have reported about the plans and the need to raise prices amid rising polymer prices in Asia. At the same time, low domestic demand does not allow traders to increase the price proposals.

Nova Chemicals produces EPS-factory with capacity of 81.5 ths. Tons per year in Beaver County (Beaver County, Pennsylvania, USA) and the plant capacity of 45 thousand. Tons in Painesville (Painesville, Ohio, USA).
The principal of EPS producers in North America are the Dart Polymers, Flint Hills Resources, Grupo Idesa, Nexkemia Petrochimie, Nova Chemicals, Plasti-Fab, StyroChem International and Styropek.