Americas Styrenics LLC will raise its polystyrene pricing 3 cents/lb ($66.14/mt) January 1, according to a letter the company sent to customers Tuesday and Platts obtained Thursday.
Higher feedstock styrene pricing has caused the push for higher pricing in polystyrene for January.
Styrolution also announced a 3-cent increase effective January 1 for polystyrene Tuesday, according to a letter the company sent out.
Market supply in the styrene market is tight, which supports the recent surge in spot prices, sources said, adding that higher styrene feedstock benzene prices also have provided support.
In feedstocks, styrene gained 0.45 cent/lb Thursday, assessed at 74.75 cents/lb FOB USG. Benzene was assessed at $4.93/gal FOB USG Wednesday, down 2 cents from Wednesday.
According to participants, polystyrene market demand was slow and supply was tight amid producer turnarounds.
Source: Platts.com
