Ineos Styrolution has posted its gross market price for GPPS for September with a monthly increase of Eur200/mt ($238.50/mt), higher than the increase in costs, according to an announcement on its website.
The September styrene September contract price was fully settled Friday at Eur1,360/mt ($1,621/mt), up Eur190/mt from August on a global supply crunch in styrene.
The posted increase by Styrolution is Eur10/mt higher than the monthly rise in costs.
Polystyrene market participants anticipated a three-digit increase in styrene this week as significant styrene supply disruptions in the US due to Hurricane Harvey meant export cargoes destined for Europe were delayed.
In addition, a force majeure remained in place at Total's Gonfreville styrene unit in France, further tightening supply.
The GPPS spot price jumped Eur55/mt to Eur1,350/mt FD NWE Wednesday as market participants anticipated higher styrene prices in September.
GPPS production margins increased in August, with the GPPS net contract price assessed at Eur1,345/mt FD NWE Wednesday, down Eur10/mt from end-July.
The styrene August contract price was fully settled down Eur30/mt to Eur1,170/mt, indicating that GPPS seller margins rose Eur20/mt on the month in August.
