PS increases in the wake of styrene

Spot PS prices have risen at least 100 euro/ton in Italy following the 103 euro/ton increase in the monthly styrene contract. Spot West and South European offers have climbed over a new threshold to 1,300 euro/ton for GPPS and 1,400 euro/ton for HIPS, according to sellers. On the other hand, Central European origins are still maintaining their competitive edge, with offers for these origins standing €50-100/ton below offers for West and South European materials.
In the GPPS market, sellers offer West and South European cargoes at 1,340-1,350 euro/ton (FD North Italy, 60/90 days deferred payment) while Central European cargoes are reported at 1,260-1,300 euro/ton with the same terms. An official distributor of a Central European producer commented that they have already sold a satisfactory amount of PS with 100 euro/ton increases over March. The food packaging sector has been performing relatively better while other sectors are still suffering, he commented.
In the HIPS market, West and South European offers from traders are standing at 1,390-1,410 euro/ton while a couple of buyers have received relatively lower offers at 1,360-1,380 euro/ton with the same terms. Central European offers, in the meantime, are reported at 1,300-1,360 euro/ton for regular origins. Indeed, a buyer was able to obtain a much lower price for Russian HIPS at 1,260 euro/ton (FD North Italy, 90 days deferred payment), widening the gap further between West and Central European origins.