26 July 2013 20:30 [Source: ICIS news]
HOUSTON (ICIS)--July contract prices in the US polystyrene (PS) market were down by 2 cents/lb ($44/tonne, €33/tonne), based on a 7.9% drop in feedstock benzene costs, sources said on Friday.
Benzene contract prices for July dropped by 35 cents/gal from June levels to settle at $4.07/gal. With such a large decrease, sources said it would have been difficult for producers to avoid offering a price drop for PS.
The decline takes US PS prices back to April levels, which were the lowest level of 2013.
Price direction for August was unclear, with one producer saying it was premature to be discussing August pricing.
Barring any unusual weather problems or supply disruptions, buyers said they are expecting flat pricing next month.
US PS prices were assessed by ICIS at 97-99 cents/lb for bulk general purpose PS (GPPS) DEL (delivered) and 107-109 cents/lb for bulk high impact PS (HIPS) DEL.
Major US PS producers include Americas Styrenics, Styrolution and Total Petrochemicals.
($1 = €0.75)
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