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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.

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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.

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PS prices see decreases in November versus October despite a relatively stable styrene market, according to GC Intelligence price assessments.

The monthly styrene contract showed little change with an increase of €4/mt from October to November.

However, as gas futures decreased during October from around €170/MWh to €120/MWh, buyers trimmed the recent energy surcharges.

The double-digit decreases however meant PS prices in Europe remain substantially above their long-term trend.

PS prices see decreases also due to weak market conditions driven by falling net trade, players destocking, and poor economics.

Import offers for general purpose polystyrene (GPPS) fell to just above €1500/mt CIF, a level much below domestic prices.

Falling Charts

PS import prices decreased again in November, maintainaining the gap with domestic European prices.

European polystyrene (PS) prices have suffered heavy losses in the past few months, dropping below €2,000/mt.

A slowing demand and an overheated market provided the ingredients for the sharp falls in August and September in Europe.

Meanwhile, exporters to Europe facing weak market conditions also in their domestic markets lowered their offers to maintain order intake.

Import prices in November in Europe have therefore remained €250-300/mt below European prices for general purpose polystyrene (GPPS).

The lower values keep the pressure on European producers to reduce prices.

Despite the stable prices of the monomer styrene, increasing only by €4/mt in November, PS prices could post losses.

While low demand and competitive imports remain major drivers, the lower gas prices are allowing buyers to also revert the recent energy surcharges imposed by producers.

The outlook for the rest of the year sees a slowdown in the downward trend. But all the signals suggest a rebound may be the least likely scenario.

The major factors that will shape the market environment next year are seeing little to no improvement, namely inflation, the war, and the Chinese economy.


INEOS seeks €50/mt decrease on PS in November versus September despite the styrene monomer contract price increasing by €4/mt.

The decrease noted on INEOS Styrolution‘s website likely reflects the persistent slide in gas prices since August.

The lower gas should allow buyers to claw back the recent energy surcharges implemented by producers.

Moreover, polystyrene (PS) demand in Europe suffered losses recently as inflation chocked off consumer spending.

For example, players say appliance producers are registering reductions in activity of around 30-40%.

Many sectors, including appliances, experienced a boom in demand during the pandemic.

Construction is another market that saw activity reach high levels during the pandemic. The sector is also suffering a slowdown which accelerated since the end of the summer.

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