MOSCOW (MRC) -- Nizhnekamskneftekhim, Russia's largest producer of general purpose polystyrene (GPPS) and high impact polystyrene (HIPS), will raise prices for domestic and export markets in August, according to ICIS-MRC Price report with reference to market sources.
Some market players reported this week the plant's plans to raise HIPS and GPPS prices by Rb1,700/tonne FCA Nizhnekamsk, excluding VAT, from July. The plant's new price offer will come into force on 1 August. The company has not officially confirmed this information yet.
Some interviewed market players believe the price increase is caused by the growth of the rouble in July and a shortage of styrene monomer in the Russian domestic market.
PJSC Nizhnekamskneftekhim is one of the largest petrochemical companies in Europe, the leader in the production of synthetic rubbers and plastics in the Russian Federation. The company is part of TAIF Group. The main production facilities are located in the city of Nizhnekamsk, Republic of Tatarstan. The company was founded in 1967. The range of products output comprises more than one hundred items, includinggeneral purpose and specialty synthetic rubber; plastics: polystyrene, polypropylene and polyethylene; monomers being a feedstock to produce rubbers and plastics; other petrochemical produce (ethylene oxide, propylene oxide, alpha-olefins, surfactants, etc).
MRC