03 January 2014 23:59 [Source: ICIS news]
LONDON (ICIS)--European polystyrene (PS) prices in January are likely to be driven up by higher feedstock costs in December and January, sources said.
A buyer said it is “assuming prices must go up, unless they [producers] are swimming in PS”.
Nevertheless, it added: “I don’t expect to pay any more than the feedstock increase.”
The European January styrene monomer barge contract was settled on Thursday at €1,410/tonne, up €35/tonne from the previous month. Furthermore, prices for styrene feedstocks ethylene and benzene both also rose in January, by €15/tonne to €1,240/tonne and €37/tonne to €994/tonne, respectively.
Other buy-side sources were less convinced and await sell-side indications. A distributor noted: “I have had no indications at all personally from our supplier – only from the likes of yourselves and the media so far.”
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