26-Sep-16 September contract prices of (PS) and acrylonitrile butadiene styrene (ABS) in Europe fell Eur5/mt month on month, in line with a dip in the styrene monomer contract price (CP), according to S&P Global Platts data.
CP of general purpose PS was assessed at Eur 1290/mt (US$1440/mt) FD NWE in the middle of the previous week, down Eur5/mt from the last week of August. CP for ABS was assessed at Eur1470/mt (US$1640/mt) FD NWE, a Eur5/mt fall month on month. Feedstock SM contract price was fully settled at Eur 1035/mt (US$1155/mt) at the beginning of the month, marking a Eur20/mt decline from August.
Major European sellers Ineos Styrolution and Trinseo increased their September GPPS nominations by Eur20-Eur25/mt at the beginning of the month, while Ineos Styrolution's nomination for ABS was said to be a rollover from August.
However, for GPPS, sellers were said to be reducing their offers to either a rollover or a monthly rise of Eur5/mt this week. A buyer source said he had achieved a reduction of Eur20/mt in his PS and ABS contract price. A second buyer source said some PS sellers had kept their offers firm at a rollover, indicating a range of contract prices in the market. The second source cited a shortage of PS due to issues at the Ineos Styrolution PS plant this month as the reason for the divergence of PS offers and the feedstock styrene monthly fall.
Ineos Styrolution shut its PS plant in Antwerp, Belgium, on August 30 due to an electrical failure. The plant was partially restarted on September 7 and fully restarted September 15, according to a company source. "For October business, Ineos Styrolution will be in the position to supply you with regular volume again," it said in a letter sent to customers and seen by Platts.
However, a source based in Germany said this week the expected pick-up in PS demand had not materialized, adding the construction sector in particular had disappointed in Germany.
In addition, the spot PS and ABS prices in Europe fell Eur5/mt this week to assessments of Eur1240/mt FD NWE and Eur1365/mt FD NWE, respectively, Wednesday amid uninspiring demand and a fall in the spot styrene price to a seven-month low.
Spot styrene fell to US$952/mt FOB ARA Wednesday and remained in the doldrums Thursday as ample supply weighed on the market.
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