INEOS seeks €50/mt decrease on PS in November versus September despite the styrene monomer contract price increasing by €4/mt.
The decrease noted on INEOS Styrolution‘s website likely reflects the persistent slide in gas prices since August.
The lower gas should allow buyers to claw back the recent energy surcharges implemented by producers.
Moreover, polystyrene (PS) demand in Europe suffered losses recently as inflation chocked off consumer spending.
For example, players say appliance producers are registering reductions in activity of around 30-40%.
Many sectors, including appliances, experienced a boom in demand during the pandemic.
Construction is another market that saw activity reach high levels during the pandemic. The sector is also suffering a slowdown which accelerated since the end of the summer.