10 December 2010 23:59 [Source: ICIS news]
LONDON (ICIS)--Prices in the European expandable polystyrene (EPS) market have rolled over from November, industry sources said on Friday.
Prices were assessed by ICIS at €1,305-1,360/tonne ($1,717-1,789/tonne) FD (free delivered).
Producers had wanted an increase to offset higher prices for feedstock styrene monomer, which had risen by an average of €35/tonne in December.
Instead, they managed to secure small, isolated increases here and there.
At the same time, buyers expected EPS prices to drop because of seasonally low demand for December and especially bad winter weather, which had closed down much of Europe's construction market, players said.
They too, however, achieved only a few minor adjustments, players said.
Regardless, weaker short-term activity from the insulation market has been partly offset by demand for packaging grade material, said players on both sides of the EPS market.
Also, both suppliers and their customers are cautiously optimistic about the prospects for the volume of business in 2011 - when further growth in consumption is expected to consolidate the recovery that has occurred this year.
($1 = €0.76)
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