PA buyers fail to push prices down in May and had to instead settle for a rollover from April.
Buyers saw yet another surge in prices in April, this time because of the higher energy costs.
Most accounts from March to April settled at an incraese of €400-500/mt for both PA6 and PA66.
Since then, energy prices, decreased, particularly gas prices which have had a big impact on electricity costs.
Gas futures have fallen from the peak of around €230/MWh in March to around €90/MWh, while crude oil from $124/bbl to $113/bbl.
However, sellers succeeded in rolling over prices in May, helped mainly by persistent frim raw material costs.
Benzene for example posted double digits increases from April to May, which appears to have been enough to support sellers.
A degree of resilince of demand also helped to prevent buyers from securing decreases in May.
Nevertheless, the outlook was getting weaker for the summer months.
A combination of seasonal retreat in costs amid lower demand because of inflationary pressures should be enough to support decreases.