Composites/GRP August: Largely uneventful month / Weak demand leaves little scope for price movement in coming weeks
Although the contract price for styrene, the main feedstock, rose by EUR 149/t in August, resin prices remained stable. Weak demand even resulted in slightly lower prices in isolated cases, although these were not representative of the market as a whole. PIE panellists expect slight increases or reductions, depending on how demand develops over the coming weeks. However, with the September styrene contract price falling again by EUR 140/t, producers will scarcely be able to push through price increases. Some converters require slightly more material, but not enough to lift overall demand.
Glass fibre prices are expected to remain stable up to the fourth quarter. Freight rates from Asia to Europe have gone down considerably. This, coupled with weak demand, means sellers are lacking the leverage to raise prices.
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