Composites/GRP October: Rising import prices push up European quotations / Market largely balanced / Further hikes expected in November
In an overall balanced market, it was primarily the further increase in the price of imports that drove up medium-reactive ortho resins prices. European producers took advantage of the situation and adjusted their prices accordingly.
Order volumes have stabilised noticeably in the autumn. All industrial sectors are ordering at largely normal levels for the time of year. Defence contracts are increasingly playing a role for a growing number of converters. European producers have aligned their production even more closely to demand and have thus been able to reduce their inventories somewhat. The EUR 24/t increase in the November contract price of key feedstock styrene will likely lead to further price rises in a market that remains balanced.
In the case of glass fibres, suppliers are increasingly reducing their stocks. While there have been no delivery restrictions to date, the more limited availability is expected to push up prices. Lower demand at the end of the year will likely keep these increases in check.