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price increase

Trinseo raises PS, ABS, SAN prices. Trinseo announces price increases for Polystyrene (PS), Acrylonitrile Butadiene Styrene (ABS), and Styrene-Acrylonitrile (SAN) materials.

The increases will be effective from April 1, 2024, or in accordance with existing agreements.

General purpose and high impact polystyrene grades will see a price hike of €55/MT, while ABS and SAN resins are slated for a €60/MT increase.

price increase

Trinseo raises price in March. The company has announced a price increase for all General Purpose Polystyrene (GPPS), Acrylonitrile Butadiene Styrene (ABS), and Styrene Acrylonitrile (SAN) grades across Europe.

Effective from March 1, 2024, or as per existing contract terms, the price for GPPS and High Impact Polystyrene (HIPS) grades will increase by +235 Euro/MT. Additionally, ABS and SAN resins will see a price increase of +180 Euro/MT.

The increases are most likely in response to the rise in raw material costs, with benzene and styrene prices seeing significant hikes of €214/MT and €222/MT, respectively, in March. This follows triple-digit increases also in February.

shipping containers

EU SAN import resilience amid weak demand in 2023 versus 2022. Despite facing a year of tepid demand in the downstream markets, the European Union’s (EU) import of Styrene Acrylonitrile (SAN) has displayed a remarkable resilience.

In 2023, the EU’s SAN imports experienced a slight contraction, yet this modest decrease suggests that imports are carving out a larger market share within the region, according to the latest data from Eurostat.

In comparison to 2022, the total import figures dipped from 41,618 metric tons (MT) to 39,128 MT in 2023. This slight decline in import volume reflects a broader trend of low demand throughout the past year.

South Korea continued to be the leading SAN supplier to the EU, despite its imports decreasing marginally from 34,241 MT in 2022 to 33,923 MT in 2023.

Imports from other partners like Malaysia and the United States also saw reductions, though these changes were relatively minor.

On the flip side, the EU SAN exports witnessed a positive shift, albeit smaller in scale. Exports of SAN climbed from 7,105 MT in 2022 to 10,082 MT in 2023. The significant growth in exports to Turkey, rising to 2,249 MT, alongside increases to the United Kingdom and Israel.

As current prices are increasing, import will remain attractive despite the poor demand in downstream markets, adding more strain domestic suppliers.

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.

car industry

EU car sales jump 12.1% in January 2024, according to the latest data from The European Automobile Manufacturers’ Association (ACEA).

A total of 851,690 vehicles were registered. This marked a significant rebound from the slow pace observed in the previous month.

Key European markets, including Germany, Italy, France, and Spain, all reported substantial increases in car registrations. These figures illustrate a broad-based revival in auto demand throughout the region.

Electric vehicle (EV) market share climbed to 10.9%, up from the previous year, indicating a growing consumer shift towards electric mobility.

Hybrid vehicles also saw a rise in popularity, accounting for nearly 30% of new car registrations, while traditional petrol and diesel vehicles experienced a decline in market share.

Electric car sales experienced a robust increase of 28.9%, with 92,741 units sold. This surge was led by significant growth in major markets such as Belgium, the Netherlands, France, and Germany, highlighting the increasing appeal of EVs among European consumers.

The surge in hybrid vehicle registrations by 23.5%, along with a 23.8% increase in plug-in hybrid sales, reflects a continuing trend towards electrification in the EU automotive market.

However, while the automotive sector shows promising growth, the polymer industry reports stable but unenthusiastic demand.

Specifically, polymers like PA6, PA66, and polycarbonate (PC) are facing challenges related to good availability within the value chain, as overall demand in Europe remains tepid.