INEOS NOVA announced that prices for all Polystyrene products in Europe will decrease
INEOS NOVA announced that, in light of the higher than expected fall of Styrene Monomer Contract Price, the prices for all polystyrene products in Europe will be decreased in a range of 150 - 180 Euro per ton effective from November 6th, 2008. The expected large fall in contract styrene pricing will have such a negative effect on financials due to stock devaluation that INEOS NOVA has no other option than retaining a significant proportion of the fall in styrene price, according to the company.
The price spread between PolyButadiene Rubber and Styrene Monomer has also reached a record high. Therefore, INEOS NOVA will seek to expand the premium for High Impact Polystyrene grade (HIPS) to a 100 Euro per ton over General Purpose Polystyrene grades (GPPS). Unfortunately, prices for Butadiene rubber have continued to rise for the last eighteen months.
Other news from the department price development

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