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STYRENICS PRICES POISED FOR SURGE IN MARCH 2024

February 23, 2024
price increase

Styrenics prices poised for a surge. The raw materials market for styrenics is on the cusp of another significant price hike in March 2024 amid a robust rally in spot benzene and styrene prices.

Players are forecasting a potential triple-digit increase in the contract prices for these critical components next month.

Recent production disruptions, coupled with already tight market conditions, are the primary drivers behind the escalating prices.

If these factors continue to influence the market dynamics through the end of the month, the contract prices for both benzene and styrene are expected to witness substantial increases.

Current speculations estimate the price hikes to be in the range of €150-200 per metric ton (MT) for styrene.

However, market observers caution that the volatile nature of the market could lead to shifts in these projections as the month progresses.

Despite this uncertainty, the prevailing sentiment is one of concern, with the industry bracing for another round of price spikes in March 2024.

Disclaimer: This article contains forward-looking statements subject to risks and uncertainties. Actual results may differ materially from those projected. We assume no responsibility for the accuracy of predictions or any reliance placed on this information.