Styrenics major Styrolution has increased its general purpose polystyrene prices by Eur65/mt ($80/mt) in Europe, according to an announcement on its website.
The surcharge for high impact polystyrene was announced as Eur100/mt.
No outright prices were given by the company.
The announcement follows the March styrene contract price settlement which was fully settled at Eur1,450/mt on Thursday, up Eur55/mt on the month, indicating that the announced increase in styrenics is larger than that of styrene.
The PS market had been anticipating an increase in March. However, the rise was expected to be smaller, in the range Eur10-50/mt.
Several polystyrene sources expressed surprise by the extent of the increase.
GPPS spot buy activity slowed this week as the market waited for price direction from the feedstock settlement.
Buy activity is expected to be lackluster through March as buyers had pre-bought product as early as December.
S&P Global Platts assessed the February GPPS net contract price at Eur1,565/mt FD NWE Wednesday, up Eur115/mt from January.
