LONDON (GC Intelligence) — European polystyrene (PS) prices in February increased €45/mt according to GC Intelligence price assessments.
The increase was in line with expectations and similar to the price movements of the major raw materials, styrene.
Sellers managed to push for bigger increases at the beginning of February, with some confirming plus €70/mt.
However, as the month progressed and it became clear that costs were due to fall in March, demand started to fall and increases went down to €35/mt.
The focus is now on March, with expectations of coronavirus disruptions and decreases bigger than the cost movements.
Some participants were expecting decreases of around €75/mt. Others said there is ample availability and PS could fall more than €100/mt in March.
The GC Intelligence GPPS price in February was assessed at €1135/mt and HIPS at €1215/mt.
NOTE: For price indices, forecasts, and a more in-depth market analysis take a look at the GC INTELLIGENCE® Market Reports…→