US October PS prices settle at full increase

13 October 2017 23:01 Source:ICIS News

Polystyrene is used to make various plasticware including cups. 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
 

By David Love