LONDON (ICIS)--European expandable polystyrene (EPS) prices in November settled €50-75/tonne ($68-101/tonne) lower than in October, though less than the €85/tonne drop in feedstock styrene monomer costs, on good demand from the key insulation market and strong competition on the sell side.
Demand for EPS insulation grades has been high in November, reflecting a mild winter that has boosted the construction sector. Nevertheless, demand has started to decline and is expected to get worse, along with the weather, as Christmas draws near and construction work subsides.
In contrast, demand for packaging material, such as used in EPS fish boxes, is expected to rise in the run-up to Christmas but is anticipated to drop soon after.
($1 = €0.74)