18 November 2011 21:22 [Source: ICIS news]
Correction: In the ICIS story headlined “US November PS prices fall on feedstocks” dated 18 November 2011, please read in the fourth paragraph … 85-90 cents/lb for HIPS … instead of … 87-92 cents/lb for HIPS …. A correct story follows.HOUSTON (ICIS)--US polystyrene (PS) prices fell on average by 1 cent/lb ($22/tonne, €16/tonne) for general purpose polystyrene (GPPS) and 3 cents/lb for high impact polystyrene (HIPS), based on lower feedstock costs, sources said on Friday.
Some buyers said they saw prices for GPPS fall as much as 2-3 cents/lb, but those prices were not believed to be representative of the market.
With the fall in November, US domestic PS prices are assessed by ICIS at 78-83 cents/lb DEL (delivered) for GPPS and at 85-90 cents/lb for HIPS.
The outlook for December is uncertain, according to buyers and suppliers, who said they are watching the benzene-to-crude oil ratio, and wondering when benzene is going to climb again.
"With oil moving up and benzene not, it is like benzene is being spring loaded," said one producer. "There is some concern that we could see things spike quickly."
A buyer agreed, saying it hopes prices will not spring back until the first of the year.
Major North American PS producers include Americas Sytrenics, Styrolution, Total Petrochemicals and Resirene.
($1 = €0.74)
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