PIE Polymer Price Reports- April 2022
Monthly report published by Plastics Information Europe:
- Prices still shy of peaks
- Demand soft
- May moves to range from rollover to slight rises spur March hikes
- Glass fibre roving firmer
The already high level of resin prices dominated market movement and weakened demand in April. With the styrene reference price soaring, it was hardly surprising that small and mid-sized buyers of medium reactive ortho resins also had to dig much deeper into their pockets for these products. Hikes ranged up to EUR 150/t. Prices for the other starting materials, including phthalic acid anhydride and propylene glycol, also firmed again after slipping back earlier. Here and there, some large transactions saw a rollover. Buyers with quarterly contracts also were confronted with substantially higher prices.
The May styrene contract rose EUR 84/t, reflecting the uncertain supply situation and the extreme volatility of the energy markets. Forecasts had seen swings of around EUR 100/t in either direction. With an increase now a reality, it is clear that buyers will see no respite. Prices could most likely rise again, at least slightly. However, depending on the size of the order, some rollover are possible.
At the JEC global composites trade fair in Paris, soaring resin prices likely dominated the conversation. Converters and distributors are not building inventories and, all in all, are in no mood to order. Most will pay close attention to the development of glass fibre prices, which in some cases are clearly firming again.
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