Traders" offer prices rose by an average of UAH400/tonne from early 2014, following the weakening of the hryvnya against the dollar, despite a reduction of USD50/tonne in Russian export EPS prices for January shipments. A trader said the devaluation had completely offset the discount SIBUR gave for January.

 

Traders" offers were heard in the range of UAH21,700-21,900/tonne CPT Kiev, including VAT, at the end of the week. Despite the overall weak demand, companies did not want to make concessions to their customers, because of the increased procurement costs (in terms of the national currency), a source said.

 

Converters said purchase prices had also risen in Europe. Contract European EPS prices for January shipments  increased by EUR35-40/tonne. The rising euro only contributed to it, a converter said.