Ineos Styrolution has announced a Eur45/mt ($50.50/mt) hike in general purpose polystyrene for June, as well as a surcharge of Eur100/mt ($112/mt) over GPPS for high impact polystyrene, according to a statement on its website.
The announced rise follows increases in feedstock styrene.
Outright levels were not published by the company.
The styrene contract price was fully settled at Eur1,165/mt Thursday, up Eur35/mt on the month.
Despite the full settlement, there was another settlement done at Eur1,180/mt, up Eur50/mt.
Currently, it remains unclear whether other parties followed the settlement at Eur1,180/mt.
Downstream sources expected the styrene June contract level to increase over the month and for this to impact polystyrene prices.
The May GPPS net contract price was assessed Wednesday at Eur1,300/mt, down Eur210/mt from April.
The May styrene contract price was fully settled at Eur1,130/mt, down Eur245/mt, indicating that the monthly decrease in GPPS was lower than the styrene monthly fall.
