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Daily Wire

  

PetroChem Wire's Daily Wire provides closing prices and a summary of the day's trading activity for US ethylene, proylene, polymers and upstream NGLs markets. Begun in 2007, its olefins and polyolefins prices serve as benchmarks for a number of physical and swap contracts that trade on the CME/NYMEX Clearport system.

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Total announces polystyrene price increase

HOUSTON, March 15, 2019 (PCW) -- Total notified North American polystyrene customers today that it will increase prices by 4 cpp, effective April 1.

No reason was stated in the increase notice, but benzene spot prices have moved up by 13 cpg since the beginning of March. March spot benzene finished Thursday at 215 cpg ($643/mt), while April traded at 218 cpg DDP HTC.

Benzene costs are an important driver of PS markets, with each 10 cpg move in benzene producing a 1 cpp change in PS production costs.

North American PS manufacturers are implementing a 2 cpp price increase in March; PS contract prices were flat in January and February.

According to preliminary industry data from the American Chemistry Council, January-February domestic PS sales were down about 1% from a year earlier, but export volumes increased by more than 60%, although they still represented only 5% of YTD total sales. -- David Barry

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