PS prices see decreases in November versus October despite a relatively stable styrene market, according to GC Intelligence price assessments.
The monthly styrene contract showed little change with an increase of €4/mt from October to November.
However, as gas futures decreased during October from around €170/MWh to €120/MWh, buyers trimmed the recent energy surcharges.
The double-digit decreases however meant PS prices in Europe remain substantially above their long-term trend.
PS prices see decreases also due to weak market conditions driven by falling net trade, players destocking, and poor economics.
Import offers for general purpose polystyrene (GPPS) fell to just above €1500/mt CIF, a level much below domestic prices.