European PS, ABS markets unresponsive to falling costs
After Trinseo and Ineos announced their March prices with increases beyond monthly styrene contract hikes, more deals were concluded with three digit hikes, which has been the case during the last four months. Along with the March increases, both PS and ABS prices hit all-time highs.
On the other side of the coin, PS converters continue to lament about difficulties in reflecting higher costs onto their end products considering that PS prices hit all-time highs and they mostly prefer to destock. Most buyers reported, “We think that prices reached their peak levels and we expect to see a reversal in trend by April-May, although limited imports might cushion price decreases to some extent in the local market.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China PP price uptrend intact after holidays despite local supply pressure
- Saudi PP, PE markets reverse course in Feb after 8 months, maintenance schedule busy in Mid-East
- Freight carriers aim to manage supply-demand balance by blanking more sailings
- PP and PE markets set to rebound from two-year lows in Europe
- PET sellers hunt for signs of market bottom in Europe
- India’s import PP, PE markets rebound in Jan after several months of declines
- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey