HOUSTON (ICIS)--AmSty announced a price decrease of 2 cents/lb for all grades of polystyrene (PS) in North America, effective 1 May, according to a company press release on Monday.
AmSty said that the new price supersedes all other previously announced price changes.
Meanwhile, INEOS Styrolution confirmed on Monday that it separately informed customers on 28 April that it was decreasing PS prices by 2 cents/lb, effective 1 May. The producer does not send out price reduction letters.
One source said it is not surprised that prices are decreasing by 2 cents/lb, given costs and current supply and demand.
Feedstock benzene contract prices were little changed in May from the previous month. However, feedstock styrene spot prices continued to weaken. PS demand was a little softer than expected in April, one producer said.
North American PS producers include AmSty, Group Idesa, INEOS Styrolution, Resirene and Total Petrochemicals USA.