PS demand in Italy remains fragile

In view of the still fragile PS demand in Italy, an official distributor of a Central European producer decided to ask for a smaller increase for March as larger increases will not find acceptance in the market, as per Chemorbis. In Italy’s PS market, producers are seeking €50-55/ton increases for March gentlemen’s agreements and traders seek a €40-50/ton increase for West European origins in the spot market. PS sellers are finding support from the €42/ton higher styrene contract settlement amid persistent tightness. While some producers and traders report no prompt availability, there are two maintenance shutdowns planned in April at Dow and Ineos Nova. However, the distributor offering a Central European origin has raised prices by only €20/ton over last month, and the offers for Central European PS retain their competitive edge against the rest of the market. Central European GPPS and HIPS are respectively reported at €1170-1180/ton and €1200-1210/ton while sellers reported their West European offers this week at €1220-1255/ton for GPPS and €1300/ton for HIPS in the spot market.
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