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INEOS Styrolution Announced Price Increases

November 5, 2020
The increases in costs, good demand and tight supply are all lending support.

INEOS Styrolution announced price increases in November on styrenics in Europe, according to a note on its website. This announcement reflects the tighter market conditions and higher costs.

Moreover, the recent increases in costs added to the support from good demand.

After the retreat in the spring, styrenic prices have been recovering.

What is more, a buoyant Asian market has tightened the ABS market. And it is now also helping to push up European raw material prices.

So far, there is no indication that the current upward trend is going to stop in December.

INEOS Styrolution announced price increases in November as follows: general purpose polystyrene (GPPS) and high impact polystyrene (HIPS) will increase €80/mt; acrylonitrile butadiene styrene (ABS) will increase €195/mt.

Demand for most market segments of PS and ABS is strong. For example, the construction sector continues to rally even for this time of the year. And the lockdowns resulted in a spike in ABS demand from the toy sector.

Meanwhile, all costs, from benzene to styrene are increasing.

As seen in other markets, while November is normally a seasonal low month, it seems the coronavirus is disrupting such patterns.

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