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European Polystyrene Prices Stabilize in Line With Styrene Costs
European Polystyrene Prices Stabilize in Line With Styrene Costs

European Polystyrene Prices Stabilize in Line With Styrene Costs

  • 07-Mar-2023 10:29 AM
  • Journalist: Gabreilla Figueroa

With the minor rise in the price of Styrene, some stability in the price of Polystyrene has been observed in the recent week's price quotations in the European region. At the most recent price quotation for Polystyrene, supplies in the domestic market were adequate, and demand was still low. The lack of inquiries in the downstream automotive and construction industries had an impact on the Styrene demand. Styrene prices ranged between $875 and $980 per tonne for March FOB US Gulf coast on February 28, 2023, since the US Styrene export arbitrage to Europe was still firmly closed.

The price of Polystyrene GPPS FD Hamburg steadied in the German market during the first week of March 2023 to the settlement price of USD 1850 per MT. Despite lower operating rates for the upstream Styrene and reduced labor efficiency in the German market, demand for feedstock Benzene has kept some usage constant. Participants are examining whether demand for downstream derivative Polystyrene (PS) and Expandable Polystyrene (EPS) market Dynamics exists. Furthermore, softening domestic Styrenics demand for PS, and Acrylonitrile-Butadiene-Styrene (ABS), combined with weak export Styrene demand and high feedstock costs, are prompting Styrene producers to consider lowering operating rates or shutting down reactor capacity in March. In February, several units were unable to operate at levels substantially lower.

As per ChemAnalyst, only a few producers successfully tried to raise prices after the minor increase in the Styrene Monomer price stability. Instead, Polystyrene prices were frequently maintained at the prior month's level; in many cases, past highs needed to be somewhat corrected lower. Despite certain facility maintenance, the supply situation is not anticipated to change significantly. In March 2023, the material should be accessible as well. With the winter season ends, demand should begin to increase again. Nonetheless, the growth in demand is probably going to be less than typical, given the general deterioration of the construction industry.

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