Fluctuations in styrene prices are causing greater volatility in resin prices / Glass fiber imports are being affected by rising freight costs
With a styrene contract set at a significantly lower level (-270 EUR/t in July) and demand remaining low, resin prices declined overall. The KI panel reported changes ranging from rollovers to discounts of 70 EUR/t. Little is expected to change regarding the low demand in August—but this does not apply to styrene costs, which are set to rise noticeably. Polymer prices are therefore expected to rise in the coming weeks.
The glass fiber market was marked by higher freight costs for shipments from Asia. However, weak demand generally kept price increases in check. The exception was higher-grade fiber mats, where the dominant quarterly contracts kept prices largely stable. In August, sellers will once again push to pass on logistics costs. This is likely to succeed to a large extent and lead to further price increases.
Composites/GRP July: Fluctuating styrene prices lead to greater resin volatility / Glass fiber imports affected by rising freight costs
With the styrene contract settled significantly lower in July (down EUR 270/t) and demand remaining weak, resin prices declined overall. The PIE panel reported changes ranging from prices holding steady to reductions of EUR 70/t. Demand is unlikely to improve much in August, but the same cannot be said for styrene costs, which are set to rise noticeably. Polymer prices are therefore expected to increase in the coming weeks.
The glass fiber market was influenced by higher freight costs for shipments from Asia. However, weak demand generally kept suppliers’ price demands in check. The exception was higher-grade chopped strand mat, where the prevailing quarterly contracts kept prices largely stable. Sellers will again push to pass on logistics costs in August. They are likely to succeed in many cases, resulting in further price increases.