INEOS Stirolution seeks lower PS prices from May to June. The note on the company’s website says the decreases from 1 June 2021 will be of €270/mt.
And this announcement follows the big decrease of the styrene contract price of around €400/mt. The decrease on styrene also prompted INEOS to announce decreases also on ABS.
With tight supply of polystyrene (PS) and strong demand, sellers stand to increase margins for yet another month in June.
A decrease in June would mark a significant development in the price trend. PS prices have increased for the past 7 consecutive months.
According to GC Intelligence price assessments general purpose polystyrene (GPPS) prices gained €940/mt from November to May, representing a total increase of around 100%.