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POLYCARBONATE PRICES PLUMMET IN SEPTEMBER

Polycarbonate prices plummet in September. In September 2023, polycarbonate grade prices saw noticeable decreases.

Despite post-holiday expectations, demand stayed low.

Domestic prices are now competitive, making import offers, especially from Asia, less attractive. This shift may influence a change in trade patterns.

Forecasts suggest prices might either decline or stabilize for the year due to ongoing demand issues.

Rising inflation, potentially fueled by crude oil price surges, could challenge the 2024 market recovery.

EUROPEAN PMMA MARKET FACES DOWNTURN AMID IMPORT COMPETITION

European pmma market faces downturn amid import competition. In September, the European polymethyl methacrylate (PMMA) market experienced a consistent decline in prices across all segments due to competition from cost-effective imports.

Despite a brief uptick in demand, attributed more to post-summer activity than genuine recovery, various sectors report significant downturns.

According to analysis by GC Intelligence, forecasts predict continued market challenges, with hopes for a rebound now shifting to 2025 due to potential economic headwinds including inflation and rising energy costs.

While the market remains well-supplied, the declining European prices are impacting import volumes, though MMA spot prices remain competitive.

EU STYRENE PRICES SET FOR LIMITED DECREASE

EU styrene prices set for limited decrease. After experiencing an unprecedented surge in the September contract price, styrene monomer appears poised for a decrease in October.

The increase in September was largely the result of unexpected plant shutdowns that led to a market shortage in the European Union.

These events led to shortages, driving contract prices of styrene monomer up by €170/mt in September alone.

However, as production issues are beging resolved amid persistent low demand, market dynamics are changing.

The EU styrene market is gradually moving from a shortage situation to a balanced and arguably oversupplied position.

Consequently, there’s increasing anticipation for price decreases in October.

Despite these factors signaling a likely price reduction, other market elements are exerting upward pressure on costs.

Specifically, the prices of upstream products like benzene are receiving support from crude oil prices. These factors are likely to set a floor on how much styrene monomer prices can actually drop.

While the resolution of production issues and ongoing low demand might usher in some relief for buyers in the form of lower styrene monomer prices, the extent of these decreases is expected to be limited.

INEOS STYROLUTION HIKES PRICES FOR GPPS AND HIPS

INEOS Styrolution hikes prices. The company, a leading global manufacturer of styrenics, has announced significant price increases.

The increases of general purpose polystyrene (GPPS) and high impact polystyrene (HIPS) reflect higher costs of the monomer styrene.

Effective as of August 1st, 2023, the Gross Market Price for Polystyrene (GPPS) has risen by €120/MT compared to July 2023.

Meanwhile, the surcharge for HIPS remains at plus €110/MT.

The price increase corresponds with a hike in the cost of styrene, which saw its contract in August increase by €108/MT to €1405/MT.

GPPS (General Purpose Polystyrene) is commonly employed for crafting clear packaging solutions. HIPS (High Impact Polystyrene) stands out for its role in constructing robust refrigerator housings and other durable product casings.

TRINSEO CONSIDERS NETHERLANDS STYRENE PLANT CLOSURE

Trinseo considers Netherlands styrene closure. The company has commenced discussions regarding the potential closure of its styrene plant in Terneuzen, the Netherlands.

The decision comes amid a 38% decrease in polystyrene (PS) net sales in Q2 versus last year and a broader restructuring initiative by the company.

If closed, Trinseo will obtain styrene through external purchases, abandoning in-house production.

This move is part of an ongoing response to lower sales volume and weaker economic conditions.

Other restructuring plans include the optimization of the Europe PMMA sheet network and operating cost reductions.

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