HOUSTON (ICIS)--US polystyrene (PS) contract prices have settled at an average increase of 3 cents/lb ($66/tonne) for October, effective 1 October, market sources said on Friday.
Prices also increased by 3 cents/lb in September, after rolling over in August.
Given that most key feedstock prices jumped in the aftermath of Hurricane Harvey, some sources believed that prices had enough support to go higher than 3 cents/lb.
Feedstock styrene spot prices jumped by 9.68 cents/lb in the two week following Harvey.
Since that time, however, styrene spot prices have dropped by 11.49 cents/lb.
Similarly, feedstock benzene spot prices jumped to $2.80/gal on 31 August, one week after settling at $2.59/gal.
Benzene spot prices averaged $2.67/gal during the first 12 days of October, and hit the high for the month on 12 October at $2.70/gal.
Domestic PS prices may hold their own for a bit, but will soften after that, one distributor added.
Off-grade PS is starting to hit market for first time in a while, the distributor added.ICIS PS prices are 106-116 cents/lb for general purpose PS (GPPS) and high impact PS (HIPS) DEL (delivered US). Prior to the increase, PS prices ranged from 103-113 cents/lb.
North American PS producers include AmSty, Group Idesa, INEOS Styrolution, Resirene and Total Petrochemicals USA.
PICTURED ABOVE: Polystyrene is used to0 manufacture various plasticware, such as disposable cups