The upward momentum on European PS prices that was established in November looks set to continue in 2021.
INEOS Styrolution rises PS prices in January by €130/mt, according to a note on its website.
The company said the increases on general purpose polystyrene (GPPS) will start from January 1.
What is more, Styrolution rises PS prices in January also for high impact polystyrene (HIPS) as the usual €100/mt surcharge will apply.
While the increases in costs have been supporting higher prices, demand continues to show strength during the pandemic.
Therefore, the healthy demand in some market segments, such as packaging, remains a key driver of the European polystyrene (PS) market.
On the supply side, recent turnarounds and plant issues have driven down inventories.
As producers have been trying to replenish stocks and at the same time satisfy the good demand, supply has tightened.
And this market environment looks set to remain in place in January.