Prices fall of Solid PS and PET Bottle Resin
North American prices for solid polystyrene and PET bottle resin each
have fall since Nov. 1, as insist for both materials cooled as the year
draws to a close.
PS prices fell an average of 3 cents/pound, although some buyers reported smaller drops for general-purpose PS, while others reported larger drops for high-impact PS.
The decrease followed a 6-cent October drop and once again was tied in to weak demand as well as lower prices for benzene feedstock, which is used to make styrene monomer. Benzene prices fell 5% in November to $3.15 per gallon. Prices in October had fallen 18 percent vs. the previous month.
According to PS market analyst Stacy Shelly, high-impact prices are dropping more quickly than general purpose grades. Because of steeper drops in price for butadiene feedstock that is used to make HIPS. Regional prices for butadiene fell about 18% in November, said Shelly, who is with Resin Technologies Inc. in Fort Worth, Texas.
Butadiene prices for December already have fallen another 13%, meaning further HIPS price drops for December are an opportunity. Even with the November refuse, regional PS prices remain about 14% above their level on Jan. 1. In PET, prices have fallen an average of 5 cents per pound since Nov. 1. That drop comes on the heels of a 2-cent dip in October. The November price drop pulls the number of price drops seen by North American PET even with the number of increases. The market has seen four of each.
Plastic World News Desk - India
PS prices fell an average of 3 cents/pound, although some buyers reported smaller drops for general-purpose PS, while others reported larger drops for high-impact PS.
The decrease followed a 6-cent October drop and once again was tied in to weak demand as well as lower prices for benzene feedstock, which is used to make styrene monomer. Benzene prices fell 5% in November to $3.15 per gallon. Prices in October had fallen 18 percent vs. the previous month.
According to PS market analyst Stacy Shelly, high-impact prices are dropping more quickly than general purpose grades. Because of steeper drops in price for butadiene feedstock that is used to make HIPS. Regional prices for butadiene fell about 18% in November, said Shelly, who is with Resin Technologies Inc. in Fort Worth, Texas.
Butadiene prices for December already have fallen another 13%, meaning further HIPS price drops for December are an opportunity. Even with the November refuse, regional PS prices remain about 14% above their level on Jan. 1. In PET, prices have fallen an average of 5 cents per pound since Nov. 1. That drop comes on the heels of a 2-cent dip in October. The November price drop pulls the number of price drops seen by North American PET even with the number of increases. The market has seen four of each.
Plastic World News Desk - India
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