24 February 2012 20:04 [Source: ICIS news]
HOUSTON (ICIS)--Mexico’s Resirene, the main polystyrene (PS) producer in the country, is seeking price increases for all grades of the resin, effective on 1 March, to offset rising feedstock costs, a company source said on Friday.
Mexico’s Resirene notified its customers that general purpose PS (GPPS) prices will increase by 2 cents/lb ($44/tonne, €33/tonne) effective on 1 March, a company source said.
Resirene seeks to increase the price of high impact PS (HIPS) by 4 cents/lb.
The justification was continuous cost pressure, particularly from benzene and butadiene (BD), key feedstock for PS production.
The March increase is independent and additional to the ones implemented on 1 January and February.
Producers sought on average 6 cent/lb increases in January and a similar amount in February.
It was too early to tell if the March increases will take hold as announced.
February GPPS prices in Mexico are in the range of $1,853-1,895/tonne FOT (free on truck), while high-impact PS (HIPS) prices were at $2,071-2,115/tonne FOT, based on ICIS data.
The main PS producers in Mexico are Resirene, Styrolution Mexicana and Idesa.
($1 = €0.75)
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