Styron has announced a price increase of Eur200/mt ($264/mt) for all its styrene butadiene and acrylic latex products effective from March 1, the company said in a statement Tuesday.
The increase will be applied to all products sold into the paper, carpet and performance markets in Europe, Russia, India, Middle East and Africa.
Styron cited continued increases in key raw materials, energy and freight used to manufacture and move latex products.
NWE styrene spot values are currently the highest in the world, according to Platts data. Prices basis FOB Rotterdam have rallied $111/mt or 8% from the beginning of February to close at $1,516/mt on Monday.
Free delivered butadiene spot values on the other hand, have rallied Eur75/mt or 3.6% across the same timeframe to Eur2,180/mt as of last Friday.
The outlook for price trends on both products remains bullish, market sources said.
Styron is not the first producer to raise styrene-butadiene copolymer prices in the region. On February 13, Styrolution hiked its prices for styrene butadiene block copolymers by the same amount and enforced a retroactive increase effective from February 1.
