23 January 2009 16:03 [Source: ICIS news]
“Dow’s raw material and energy costs for polystyrene have steadily increased over the last weeks and the polystyrene margins are at unsustainably low levels,” said a statement.
PS producers' margins have been weak for many months and the industry has been running at low rates to accommodate poor demand.
One other PS producer canvassed said that it would seek to increase prices if styrene rose in February, but that it would be very difficult to improve margin in the current weak situation.
Buyers intended to wait for the outcome of the next styrene contract before commenting on the move.
European PS producers include INEOS NOVA, Dow, BASF, Total Petrochemicals and Polimeri Europa.
($1 = €0.77)
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