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MOSCOW (MRC) -- SIBUR, Russia"s
largest producer of expandable polystyrene (EPS), will reduce its prices
for the export market in August, according to ICIS-MRC Price
report with reference to market sources.
Overseas buyers
expect export contract prices to go down in August
by USD90-100/tonne. Converters have received the preliminary prices so
far. Given the last price announced by a buyer, the plant"s
prices will be reduced by USD90/tonne FCA the plant"s warehouse, excluding
VAT. Earlier, some players reported a price reduction
of USD100/tonne FCA the plant"s warehouse, excluding VAT. The final offer
price will have been formed by the end of the week, a buyer
added.
The situation in foreign markets was the reason
for lower export prices. Prices of styrene monomer (SM) and EPS
dropped in Europe and Asia in July. The plant had to lower prices
to hold a competitive advantage in foreign markets.
SIBUR-Khimprom
will also shut down its SM production in early August. Maintenance works at
the plant"s SM production will last during a month,
whereas a turnaround at SIBUR-Khimprom"s EPS plant will last
for two weeks (also in August). |
