Plastics and rubber producer Styron Europe said Friday that it plans to roll over its monthly price for styrene butadiene latex in Europe, the Middle East, Africa and India in June, in a bid to widen profit margins amid falling feedstock costs.
The rollover would affect latex sold into the paper, carpet, and performance latex markets.
Styron said it is already discussing its pricing ideas with its customers.
"We are initiating a process to restore margins to a sustainable level," said Christian Page, the company's business director for Latex in Europe, the Middle East, India and Africa.
"Although the current climate is seeing challenges for suppliers and customers alike, Styron needs to be able to reinvest in the Latex business and focus on its responsible leadership in the industry remaining committed to the market," Page said.
Latex production costs fell in May, with the Northwest European butadiene contract price settling at Eur1,340/mt FD NWE, down Eur75/mt, while the styrene contract settled at Eur1,400/mt FD NWE, down Eur11/mt.
