Polystyrene was the exception, for which prices increased more than 10%

Polystyrene was the exception, for which prices increased more than 10%

Plastics producers have largely failed to increase resin prices during April. Suppliers were under pressure to recover rising feedstock costs, but most were unable to pass this on to their customers.

The only exception was polystyrene, which saw successful hikes of more than 10% – with further rises likely next month. This is due to a shortage in benzene, a precursor of PS. Polyethylene prices were stable in April, and in some cases actually fell slightly. Polypropylene and PVC saw modest gains while PET prices continued to climb.

In terms of sales volumes, business was fairly quiet this month due to the Easter holiday period and converters working ‘hand to mouth’. Demand is expected to pick up in May, which should support producers’ attempts to raise prices. Supply also remains very tight with producer stocks at very low levels due to an unusual number of scheduled and unscheduled plant outages.