PIE Polymer Price Reports-December 2022
Monthly report published by Plastics Information Europe:
For the most part, converters expect more of the December decline in the styrene price to be factored into resin purchase prices this month. However, the EUR 115/t increase in the January contract for the key precursor, along with the rise in spot prices to around EUR 300/t over the course of December, suggest otherwise. On the other hand, phthalic- as well as maleic acid anhydride in some cases gave up considerable ground, while propylene glycol remained relatively stable.
The overall direction is unclear. In contrast to expectations, slight price declines or even a rollover are in the realm of possible for resins as demand remains weak. At the end of 2022, so many projects were pushed into February that order activity in January should be modest.
Rumours of impending price declines for glass fibres have been widely making the rounds. At the beginning of December, rebates of 10-20% were being discussed, but by the end of the year the expectations had grown to 40%. As there was no change in December, the substantial price drop that people hope for likely to take a few days longer. That it will come is seen as a given, but the extent remains unclear.
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