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SIBUR to reduce export EPS prices in August

July 30/2015

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).
Author:Margaret Volkova
Tags:PS, EPS, styrene, SIBUR Holding, SIBUR-Khimprom, Russia.
Category:General News
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