Volume: Average
Price: Steady at best
The Polystyrene market saw limited activity this past holiday shortened week. Several spot HIPS cars were offered in the higher $.70s/lb, which is slightly lower than during the previous week. Good GPPS cars were made available in the mid-$70s/lb, with some lower quality resin offered at a much steeper discount.
After securing a $.02-.03/lb price increase through most of the industry, it seems that there was little momentum to take the Polystyrene market higher in November. Producers had nominated another $.04/lb increase, but stable Benzene prices, hanging just under $3.50/gal, have not provided adequate cost-push pressure.
Even though resin supply has been reduced through producer consolidation, the supply/demand balance is not tipped so heavily in favor of producers to achieve a margin enhancing increase at this price level. It seems that Polystyrene prices will remain range bound in the $.70s/lb, which has been familiar territory for most of 2007.
Price: Steady at best
The Polystyrene market saw limited activity this past holiday shortened week. Several spot HIPS cars were offered in the higher $.70s/lb, which is slightly lower than during the previous week. Good GPPS cars were made available in the mid-$70s/lb, with some lower quality resin offered at a much steeper discount.
After securing a $.02-.03/lb price increase through most of the industry, it seems that there was little momentum to take the Polystyrene market higher in November. Producers had nominated another $.04/lb increase, but stable Benzene prices, hanging just under $3.50/gal, have not provided adequate cost-push pressure.
Even though resin supply has been reduced through producer consolidation, the supply/demand balance is not tipped so heavily in favor of producers to achieve a margin enhancing increase at this price level. It seems that Polystyrene prices will remain range bound in the $.70s/lb, which has been familiar territory for most of 2007.
