European styrenics producer Styron Europe will start to agree its monthly contract prices for polystyrene within the first 10 working days of every month starting May 1 to reduce inefficiencies, the company said Monday.
The company said on its web site it would agree its contract prices with customers "in the first week but not later than the 10th working day of each month, effective May 1."
"The current system in which orders are typically dispatched and delivered before the contract price of polystyrene is settled presents a number of inefficiencies ranging from incorrect pricing to time-consuming accounting adjustments," Styron said.
The move will bring the PS pricing in line with the company's other products, ABS and SAN, which are already settled at the start of the month, it added.
