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