European PS buyers consent to large hikes on possible further firming
In Italy, a disposable manufacturer concluding January deals with €100-110/ton increases reported, “We only purchased GPPS as our HIPS consumption is limited. As for February, we expect further hikes of €50-60/ton on PS prices.”
A different manufacturer commented, “We prefer to source from the import market, where prices are relatively lower compared to the European prices. We are using our existing stocks for our production as demand for insulation panels is low due to the bad weather conditions. Meanwhile, PS prices are likely to increase by €70-80/ton in February.”
Another seller reported, “Styrene costs might increase by around €70-80/ton while butadiene contracts are likely to be as high as €1200/ton in February.”
Another manufacturer from Belgium postponed their next purchases to February as they have sufficient inventories. The buyer noted, “We are aware that we will have to pay higher prices. We expect further increases of €30-60/ton in the PS market.”
A distributor from Germany said that demand has recently improved on firmer expectations for February. “Styrene contracts might post €40-70/ton increases. Moreover, the premium HIPS carries over GPPS is at €90/ton, which might widen in the near term due to the higher butadiene costs,” added the seller.
According to weekly average prices on ChemOrbis Price Wizard, spot styrene prices hit 12 month-high to be reported at around €1210/ton on FOB NWE basis.
In Italy, PS ranges are reported at €1400-1500/ton for GPPS and at €1490-1590/ton for HIPS, while in Northwest Europe, GPPS prices stand at €1450-1500/ton and HIPS prices stand at €1540-1590/ton, all on local terms.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Premium of HDPE over LLDPE hits 16-month high in Turkey
- Post-holiday hikes carry China homo-PP market to 1-year high
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
- Southeast Asia PET markets move sideways during China’s absence
- Egypt’s import PE market up on tight supply, domestic offers follow suit
- Will European PS, ABS track divergent paths for another month?