Prices of Polystyrene in Germany were observed to be stable on the lower side due to weak feedstock sentiments
- 28-Feb-2022 12:18 PM
- Journalist: Timothy Greene
From the last few weeks, Polystyrene market was heard to be operated moderately with the cost of $2420/ton HIPS FD Hamburg and $2245/ton GPPS FD Hamburg. Feedstock Styrene prices in Germany were also slipped and observed to be hovering around $1589/ton-$1684/ton with week-on-week declination of 1.5%. Trinseo, which is global material company had also reduced the prices of Polystyrene in the European market.
However, the prices are still on the higher end with volatile crude and Natural Gas market. Rising energy cost and market tightness helped the prices to remain boosted. The month-to-month contract settlement followed lower benzene contracts in the midst of volatile energy costs. Even though accessibility is yet to improve considerably, numerous players hope to see improvement in supply levels as provincial makers lifted force majeures and continued production at their Polystyrene plants. A few purchasers, who engaged with import material in the previous months, are waiting for the appearance of these cargoes. On the demand front, there is a little optimism regarding stock renewal exercises. Costs are yet inflated that forestalls a massive incentive for buyers to purchase however much they can. In product-based breakdown, HIPS accessibility was a shade tighter, which upheld interest for this grade. Meanwhile, GPPS saw support from the insulation applications.
According to ChemAnalyst, the prices of Polystyrene in Germany will improve with increase in market sentiments. The product availability is expected to reduce, and the demand will increase for its downstream enterprises where its consumption in food packaging and laboratory ware will remain robust. With Russia-Ukraine conflict, the prices of Natural Gas will fluctuate, and the supply will remain deterred. Feedstock Benzene and Ethylene prices are more likely to increase which will impact the market of Polystyrene. The spot prices of Polystyrene will increase with affected exports to other European Nation due to supply shortage and surging market demand.