Polystyrene imports in EU for Q1 surge year on year due to capacity cuts

23-May-14

EU Q1 polystyrene imports jumped 119% year on year, according to recent Eurostat data- about 38,920 mt of PS was imported in Q1, up from 17,752 mt in Q1 of last year and 40% above the 27,750 mt imported in Q4. Market sources attributed the sharp increase in imports largely to reductions in domestic production capacity, as per Platts. Run rate cuts in Europe include the closure of Ineos Styrenics' 180,000 mt/year plant in Marl, Germany in October 2012 and the shutdown of Total Petrochemicals' 80,000 mt/year plant in the UK in March 2013. The EU is importing PS mostly from the Middle East, including Saudi Arabia and Egypt, where new plants have come on stream.