PS prices settled higher in October amid tighter supply conditions, according to GC Intelligence price assessments.
Monthly prices increased €25/mt from September to October for both HIPS and GPPS. This was closely in line with the movement in the styrene contract price.
Demand showed no signs of slowing down in most market segments, particularly in construction and appliances.
Supply, however, has become short, owing to some unexpected production issues along the value chain and ongoing logistics delays.
Furthermore, the shortage of tankers continued to reduce imports, adding more strain on supply as buyers were having to rely more on domestic product.
The outlook sees triple-digit increases in November on the back of higher raw material costs and good demand.
The recent spikes in utility costs will also place pressure on prices in November.
As market disruptions continue, the polystyrene (PS) market looks set to remain volatile in 2022, with prices likely to remain at current high levels.