Composites/GRP February: Prices for ortho resins go up / Discounts being offered for glass fibre products / Escalation in Middle East aggravates supply fears
The increase in the cost of styrene was reflected in the price of ortho resins in February, while glass fibre products were impacted by low demand. Price movements for the two products – increases for ortho resins and reductions for glass fibre products – were, however, limited by quarterly agreements.
After the sharp rise in the styrene reference in February (up EUR 120/t), prices for ortho resins also trended firmer. Monthly contracts rose by as much as EUR 120/t at their peak. The situation for monthly contracts for glass fibre products was very different – price reductions dominated the picture here, some of which were in triple digits, depending on the grade.
While demand for both product groups was initially very sluggish, considerably more movement was seen in material orders in the second half of the month. Growing concerns about developments in the Middle East prompted converters to order larger quantities to secure their stocks. And this was certainly not a mistake, since, together with the further rise in styrene costs (affecting ortho resins) and the EU’s anti-dumping duties (on glass fibre products), the escalation of the Middle East conflict is set to trigger price rises in March.
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