07 June 2011 23:18 [Source: ICIS news]
HOUSTON (ICIS)--North American expandable polystyrene (EPS) domestic prices rose this week, as June price increase nominations found traction based on rising feedstock costs, market sources said.
US EPS prices were assessed by ICIS at 91-97 cents/lb ($2,006-2,138/tonne, €1,384-1,475/tonne) DEL (delivered) for block and package material, up two cents on the lower end of the range and one cent on the higher end.
Mexico EPS prices were assessed at 105-108 cents/lb DEL, up one cent on the low end of the range and two cents on the high end of the range.
Producers in Mexico and the US had sought increases of 4 cents/lb for June. However, sources indicated that prices went up for many customers by 3 cents/lb.
The increases are based primarily on rising costs for feedstock styrene monomer (SM), sources said.
Initial US May styrene contracts had begun to settle up by 5 cents/lb from April on Friday.
While buyers agreed the prices had risen, they said they could not handle many more increases.
"We are losing margins because we cannot push forward the increases we are having in the raw materials," a buyer said.
For more on EPS visit ICIS chemical intelligence
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