We can expect another hefty price increase in February, 616-47-7 an ABS producer said. 83857-96-9
I think that Eur100/mt [increase] is highly likely, but the full Eur140/mt may be difficult to justify with the present economics, a styrene trader said.
A Eur100/mt increase however would mean that producers would be likely to take a margin loss, to add to those accumulated over the course of last year.
The upstream benzene market has been supported by reduced cracker operating rates, implemented since November/December, and as a result, reduced pyrolysis gasoline and benzene production has forced a number of benzene traders to short-cover.
The resulting rise in January benzene represented a cost-push which also brought styrene and polystyrene consumers out to replenish dry stock levels and pre-buy in anticipation of higher prices in February.
However a change in sentiment was not on the cards and sources suggested that the rise in demand was linked to the upstream cost-push and pre-buying tactics in anticipation of higher styrene prices in February rather than an increase in demand further down the chain. 1303-96-4
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