INEOS Styrolution decreases PS prices by €90/mt in December versus November after the triple-digit decrease in the monomer styrene price in December.
The company noted that the decrease on general purpose polystyrene (GPPS) was valid from the first of December. Moreover, a €120/mt surcharge applied on high impact polystyrene (HIPS).
The styrene monomer contract price decreased by €132/mt in December from November. However, the smaller decrease on polystyrene (PS) is likely to do with the gas price increasing again in November.
Since gas prices started to spike, suppliers of polymers, including styrenics, applied energy surcharges based on gas prices.
After the summer, gas prices plummeted from the peaks above €300/MWh. As such, suppliers decreased PS prices more than the movement in the monomer price.
However, in November, the picture changed again, with gas prices increasing from just below €100/MWh to a peak of €147/MWh. The latest price is now at €135/MWh.