MOSCOW (MRC) - Devaluation of the rouble in Russia resulted in a price rise for imported polystyrene (PS), according to ICIS-MRC Price Report.
Imported polystyrene, which entered the market in October, grew in price almost every week. Importers had to pay more, despite the fact that prices in foreign currencies remained steady.
According to ICIS-MRC Price Report, prices for high impact polystyrene (HIPS) by LG production was in the range of Rb106,000-108,000/tonne CPT Moscow, including VAT. The same price range was typical for HIPS from Polimeri Europa production.
Extrusion grades for Korean general purpose polystyrene (GPPS) from Styrolution (Polystyrol 168 N) at the current dollar exchange rate were in the range of Rb94,700-96,000/tonne CPT Moscow, including VAT.
Demand for expandable polystyrene (EPS) was strong. Prices for EPS from Asian producers Loyal and Wuxi were heard in the range of Rb92,000-95,500/tonne CPT Moscow, including VAT.
Some traders had to increase the low end of the price to Rb95,000/tonne CPT Moscow for November delivery on rising costs for the feedstock in the connection increase of the currency exchange rate.
Market players did not exclude further rise in prices in roubles. On Monday, the exchange rate from Centrobank rose to Rb41.81=USD1. Centrobank increased the euro exchange rate to the level of Rb52.9=EUR1.
MRC