Total nominates March PS price increases

HOUSTON (ICIS)–Total Petrochemicals will increase the price of its general-purpose polystyrene (GPPS) products, or crystal, by 8 cents/lb, and the price of its high-impact PS (HIPS) products by 9 cents/lb, according to a letter to customers on Wednesday.

The price increases for GPPS and HIPS are effective 1 March, and the prices supersede all other previously announced price changes.

Total said that acceptance of orders and ship dates are subject to product availability, and 30-day minimum lead times are requested on all orders.

The producer did not state in the letter why it was raising prices.

On 13 February, Americas Styrenics (AmSty) separately nominated a price increase of 12 cents/lb for all of the grades of PS that it produces, effective 1 March.

One market participant said that all of the indicators in the market were providing upward pressure on prices. The primary indicator has been feedstock styrene, which has seen spot prices surge since the end of January due to extended turnarounds in key US Gulf region.

ICIS-assessed styrene spot prices jumped to 80.63 cents/lb on 17 February, from 63.83 cents/lb on 31 January.

In early February, North American PS producers separately settled February contracts at an increase of 8 cents/lb for GPPS and HIPS grades.

Current ICIS PS prices range from 106 cents/lb to 117 cents/lb for GPPS and HIPS grades.

North American PS producers include Americas Styrenics, Group Idesa, INEOS Styrolution, Resirene and Total Petrochemicals USA.