MOSCOW (Market Report) -- Nizhnekamskneftekhim increases its September polystyrene (PS) prices by Rb5,000/tonne, according to ICIS-MRC's Price report with reference to market sources.
Market participants expected higher prices of Russian high impact polystyrene (HIPS) and general purpose polystyrene (GPPS), following a sharp increase in the dollar and euro exchange rates against the rouble in August. Higher styrene monomer (SM) prices in Europe also put pressure on prices in the domestic market.
Overall, August prices of Nizhekamskneftekhim's GPPS were at Rb108,000-114,000/tonne CPT Moscow, including VAT, whereas HIPS prices were at Rb111,000-114,000/tonne CPT Moscow, including VAT.
Next month's prices of Gazprom neftekhim Salavat's PS are expected to be adjusted similarly to prices of Nizhnekamskneftekhim's material. August prices of Gazprom neftekhim Salavat's GPPS were in the range of Rb104,000-107,000/tonne CPT Moscow, including VAT, whereas HIPS prices were in the range of Rb108 000-110 000/tonne CPT Moscow, including VAT.
Penoplex announced in mid-August that its September GPPS prices of Stairovit grade would grow by Rb5,000-7,000/tonne.
MRC