North American manufacturer of expanded polystyrene (EPS C) Styropek announced a price increase of 5 cents per pound (USD110 per ton) from 1 February 2017, ICIS reported, citing a letter from the manufacturer to customers.

The price increase applies to all standard and modified grades of EPS Styropek production.

According to market participants, the reason for rising prices is the continued growth of quotations of the raw material of benzene and styrene. 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).

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

All major North American manufacturers of EPS increased prices by 5 cents per pound (USD110 per tonne) from 15 December.

As reported earlier MRC, the December price of styrene monomer in Europe were agreed at the level of EUR1 195 per tonne, which is EUR170 per tonne higher than the previous month.

According to the price review ICIS-MRC, the Russian prices of EPS last week remained stable, despite the growth of quotations in foreign markets. Russian producers did not revise the prices, supporting the local processors. Also at stable prices of Russian PSV C influenced the seasonally low demand in winter. At the same time traders noted a significant increase in import prices.

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.