US polystyrene January contract prices rose by an average of 7 cents/lb

(ICIS) -- US polystyrene (PS) January contract prices rose by an average of 7 cents/lb (USD154/tonne, EUR120/tonne) based on higher feedstock benzene and butadiene (BD) costs, sources said on Thursday.

Producers had initially sought increases of between 5-6 cents/lb, but increased those nominations to 7–8 cents/lb, depending on the grade. 

The increases are based in large part on rising benzene prices, which settled up 70 cents/gal for the month of January to USD3.70/gal. While buyers were unhappy with the size of the increase, most saw no room for negotiation, sources said.

With the increase, US PS contract prices for January were at 84-87 cents/lb DEL (delivered) for bulk general purpose polystyrene (GPPS) and at 91-94 cents/lb DEL for bulk high impact polystyrene (HIPS), as assessed by ICIS.

Prices are expected to rise even higher in February, with at least two US producers announcing increases of 5 cents/lb for GPPS and 7 cents/lb for HIPS, effective 1 February, sources said.
Other producers are expected to follow with similar increases.

mrcplast.com