Friday, November 25, 2011

Downward correction in styrene leaves European PS producers without support

The earlier gains in European spot styrene prices had caused sentiment in Italy’s PS market to firm up last week, with several European PS sellers voicing hike targets for December, as per ChemOrbis. An earlier jump of around US$150/ton (€112/ton with the recent parity) in spot styrene prices compared to the early November level had encouraged PS sellers to attempt to pull the market out of a three-month long bearish trend last week.

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