PS prices fall in November versus October by €40/mt, according to the latest price ssessments by GC Intelligence.
The decrease represents suppliers giving back some of the energy surcharges after gas prices retreated in October.
Normally, polystyrene (PS) prices tend to move broadly in line with the styrene monomer price.
However, due to the volatility in energy costs, suppliers across the polymer industry applied surcharges mainly based on gas futures.
In November, the styrene contract prices increased by €4/mt to €1557/mt, but lower energy costs meant suppliers decreased prices on PS.
PS prices fall in November also because of the slowdown in demand and healthy imports which helped buyers in the negotiations.
While gas prices have decreased from the peaks reached in August at above €300/MWh, November has seen a rebound.
Gas futures started the month around €100/MWh and climbed to €140/MWh at the end of November.
Another round of surcharges will be disastrous for the European polymer industry which continues to suffer from low demand and competitive imports.