Rising feedstock costs and continued supply shortages have pushed polyolefin prices higher in January in Europe. Polypropylene prices rose by 2-3%, polyethylenes rose in the range of 1-2%. PVC prices were largely rolled over from the previous month. Polystyrene prices tumbled fell once more by almost 7% as styrene monomer prices crashed. Supply tightness persists, but various production issues at major cracker plants are being resolved.
However, Asian styrene prices firmed up by almost US$25/mt to the range of US$1,060/mt FOB Korea as benzene and crude oil markets gained. Styrene cargoes are building up in South Korea, and China, the region's largest styrene buyer, will witness closed markets during the Feb 9-16 lunar new year holiday. Will this put some pressure on cargo holders to liquidate their February parcels at an earlier date?
27-Jan-05 
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