INEOS adjusts polystyrene prices. INEOS Styrolution, a leading provider of styrenic applications, has announced a significant change in the pricing of polystyrene products effective from December 1st, 2023.
The Gross Market Price for General Purpose Polystyrene (GPPS, bulk) decreases by €80 per metric ton compared to its November 2023 pricing.
Additionally, INEOS Styrolution imposed a surcharge on High Impact Polystyrene (HIPS) of €110 per metric ton.
Trinseo slashes polystyrene prices in Europe. On December 4, 2023, Trinseo, a prominent provider of specialty material solutions, announced a notable reduction in the prices of its polystyrene products in Europe.
Starting December 1, 2023, or according to current contract terms, the company will decrease the cost of both its General Purpose (GPPS) and High Impact (HIPS) polystyrene grades, marketed under the STYRON™ brand, by 90 Euros per metric ton.
INEOS Styrolution PS price hike October 2023. INEOS Styrolution, the global styrenics supplier, has officially announced an adjustment in the pricing for its polystyrene products for October 2023.
The Gross Market Price for General Purpose Polystyrene (GPPS) has been revised upwards by €80/MT compared to September 2023.
Furthermore, the surcharge for High Impact Polystyrene (HIPS) has been set at an additional +110€/mt.
The hike is most certainly tied to the recent upswing in styrene monomer contract prices this October. The monthly styrene contract price increased by €60/MT versus September.
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. 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.