MOSCOW (MRC) - Russian producers of high-impact polystyrene (HIPS) and general purpose polystyrene (GPPS) left price quotation for the June shipment at the rollover from May level, as per MRC analysts.
Since the beginning of 2012 the price of polystyrene in the Russian market increased on average by Rb 5,000-6,000/tonne, having reached in April and May the level of Rb70,000-71,500/tonne for HIPS from Nizhnekamsk and Rb68,000-70,000/tonne for GPPS, taking into account delivery to the Central region. Traders of the production of polystyrene from Gazprom neftekhim Salavat announced prices at Rb63,000-64,000/tonne for GPPS and Rb64,000-65,000/tonne for a natural HIPS.
Russian producers, in particular Nizhnekamskneftekhim and Gazprom neftekhim Salavat keep the price of the material for shipment in June at the May level, despite the decline in the prices in the European and Asian markets. This resulted from a high consumption of polystyrene in recent months, as well as a significant increase of the rouble against the U.S. dollar and the euro.
Nevertheless, the market participants expect the prices of Salavat polystyrene to increase, especially of high-impact PS. Market participants anticipate that supplies of the material will be limited in June and July due to the stop of the production in Salavat for the scheduled turnaround from June 17.
MRC