INEOS cuts April ABS prices to Europe

According to a press release on the company’s website, Ineos Styrolution applied decreases of €60/ton on its ABS prices valid as of April 1, 2017 following the steep falls in the styrene settlements. Market players argue that tight supply, limited imports and stable butadiene settlements limited the magnitude of April decreases from the producer.

Butadiene contracts were agreed at €1750/ton ($1866/ton with current parity) FD NWE, with a rollover from March while styrene was fully settled at €1375/ton ($1466/ton) FOB NWE, down €275/ton ($293/ton) from March.

A different West European producer applied decreases of around €150/ton on his initial offers, reported a distributor in France. He added, “We are waiting for our customers’ feedback, yet we think that prices may have some further room to decrease during the month.”