The European PS market weakened amid ample supply levels in the region, especially for GPPS, lower upstream costs and slow buying interest due to the poor end product demand, as per ChemOrbis. In the upstream market, June styrene contracts settled with an average decrease of €75/ton (US$109/ton) on FD NWE basis with respect to May while the spot market indicates even greater drops of US $215/ton over the same period on FOB NWE basis.
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Tuesday, June 14, 2011
European PS offers lose ground in Italy and Turkey
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