PIE Polymer Price Reports-January 2024
- Resin prices slightly down
- Upward trend expected in February
- Glass fibres mixed but with hikes
Western European resin prices either rolled over or fell slightly, depending on the volumes purchased. The recent styrene reduction still had an impact on a significant number of transactions. Maleic and phthalic acid anhydride remained largely stable. However, the rising tensions in the Red Sea from mid-January onwards suggest that resin quotations will soon move higher again. The styrene contract for February will also play a part in the uptrend. It was fixed EUR 190/t higher; a number of forecasts had even seen the reference skyrocket by EUR 300/t, mirroring the spot market trend.
Converters only really got going again in mid-January, and the second half of the month was affected by developments in the Red Sea. It is thus difficult to assess the situation for February. No major stock replenishment effects or transactions are in the cards – demand from end user markets is not strong enough for this.
As expected, the turn of the quarter and the year saw movement in the majority of glass fibre products. This is by no means a general upswing, however – at least not to the extent producers were recently calling for. The automotive industry remained well below expectations in a number of segments, putting pressure on prices.
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