London — Styrolution has increased its acrylonitrile butadiene styrene August prices by Eur30/mt ($34.50/mt) in Europe, according to a price announcement on its website.
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This follows a bullish move in the August styrene contract price, which comprises the largest feedstock component for ABS.
The styrene contract price was fully settled at Eur1,315/mt, up Eur20/mt on the month on Thursday.
The industry had anticipated a rollover or a price fall in the contract price level for most of July. But spot prices soared in late July to early August.
S&P Global Platts last assessed the FOB ARA styrene spot price at $1,371/mt on Thursday, a two month high.
The butadiene contract price was fully settled at Eur1,125/mt, at a rollover.
The acrylonitrile contract price is agreed later in the month. Spot prices have been on an upward trend in the past week due to tightness in the market.
S&P Global Platts assessed the acrylonitrile spot price at $2,050/mt CIF ARA on Tuesday, up $50/mt on the day.
Approximately 58% of styrene, 25% of acrylonitrile and 18% butadiene are used for the production of ABS.
