20 January 2012 22:06 [Source: ICIS news]
HOUSTON (ICIS)--Mexican polystyrene (PS) producer Resirene is seeking price increases for all grades of PS effective 1 February to offset growing feedstock costs, market sources said on Friday.
Resirene notified its customers that crystal grade PS prices will increase by 5 cents/lb ($110/tonne, €85/tonne) effective 1 February, a company source said.
Resirene seeks to increase the price of high impact PS (HIPS) by 7 cents/lb.
The justification was continuous cost pressure in petrochemical markets, particularly from benzene and butadiene, which are key materials for the PS resin production.
The increase is in addition to the one implemented on 1 January seeking a 6-cent/lb increase for both grades.
It was not clear if the hike will have a full or partial implementation. However, feedstock prices have not let up in recent spot transactions, supporting the price move.
January PS prices in Mexico are in the range of $1,888–1,955/tonne FOT (free on truck) for crystal grade, while high-impact PS (HIPS) prices were at $2,022–2,110/tonne FOT, based on ICIS data.
The main PS producers in Mexico are Resirene, Styrolution Mexicana (Ex-BASF) and Idesa.
($1 = €0.77)
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