PIE Polymer Price Reports-September 2023
- Resin prices bottom out
- Costly styrene likely the driver
- Glass fibre little changed
- Demand sees scant improvement
Bucking the sometimes steep, persistently upward trend for principal feedstock styrene seen since August, resin prices continued pointing downward in September.
On average, the decline was modest, but for larger orders rebates could easily reach triple-digit dimensions. Once again, the divergent directions reflected the soft demand. Prices for glass fibre products continued largely unchanged. Only minor movements were spotted here and there.
It remains to be seen whether the downward trend in resin prices observed since mid-2022 will hold up much longer. Movements seen up to now suggest that the bottom has been reached.
Though the styrene contract was again fixed higher, after the steep upward momentum of recent months the rise was capped at EUR 60/t. The market anticipates a gentle firming of demand, which potentially could lead to a minor upswing in resin prices.
The few currently visible encouraging signs provide scant orientation for the market generally. Hopes of rising demand after the summer holidays were quickly dashed, and demand has dropped back to its earlier level. At present, a change for the better is not in sight.
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