March PS prices surge on stronger styrene contracts in Europe
A distributor in Italy reported raising his March PS prices by €190/ton in line with his West European supplier’s pricing strategy, bringing his new prices to €1340-1360/ton for GPPS and to €1440-1450/ton for HIPS, FD, 90 days deferred payment. However, the distributor thinks that these hikes might be trimmed later in the month depending on market conditions.
Another distributor in France issues sharp hikes of €200/ton on his West European PS prices for March in line with his supplier’s guidelines. The distributor is now offering GPPS at €1320-1360/ton and HIPS at €1410-1450/ton on an FD France, 45 days deferred payment basis. The distributor commented that his supply is short for this month while commenting that further increases are possible for April.
In Germany, a distributor lifted his March PS prices by €200/ton, pointing to firmer costs and tighter supply in the region. The distributor’s new spot prices are at €1280/ton for GPPS and at €1370/ton for HIPS on an FD Germany, 60 days deferred payment basis. In the contract market, the seller is offering GPPS at €1340-1350/ton and HIPS at €1430-1440/ton with the same terms.
A converter reported receiving new offers for March gentlemen’s agreements with hikes of €190/ton at €1380-1420/ton FD Germany, 60 days for West European HIPS, but added that he is negotiating to pay slightly smaller increases of €175/ton.
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