Home Latest News & Insights PRICE NOTE: INEOS Styrolution Announces PS Price Increases

PRICE NOTE: INEOS Styrolution Announces PS Price Increases

August 6, 2020

INEOS Styrolution, the global styrenics supplier, announced a price increase of €20/mt from July to August for its PS products.

The company note said that the gross market price for its general purpose polystyrene (GPPS) will increase €20/mt from 1 August. In addition, the usual surcharge of €100/mt will apply for high impact polystyrene (HIPS).

Similar to other styrenics, polystyrene prices are recovering from the slump in April and May.

In July, PS prices increased €70/mt for both GPPS and HIPS, according to GC Intelligence price assessments.

PS demand in some key segments such as packaging has been holding up well during the pandemic. In fact, demand experienced a bust as more people stayed at home.

However, as lockdown measures eased, the growth in demand for packaging has somewhat run out of steam.

But at the same time, the summer season supported demand for single use applications. People appear to prefer the use of throw away items amid ongoing fear of infections.

There is a good chance that prices will continue to increase in September due to improving fundamentals. The recent increase in oil prices, now at $45/bbl, will add further upward pressure.