Polystyrene Market in the US Shows Mixed Price Movements in November 2024

The Polystyrene market in the US was moderately fluctuating in November 2024. General-Purpose Polystyrene (GPPS) grade prices on FAS-Houston basis showed fluctuations throughout the month, indicating the changes in market conditions. While prices moved within a limited range, the market remained balanced, supported by consistent supply and dynamics.

In the first week of November, Polystyrene prices for GPPS grade settled at USD 1,680 per MT, marginally lower than the last week of October by 1%. The market entered a correction phase following the end-of-October inventory build-up. Feedstock styrene prices also experienced a notable decrease during the week, providing a manageable cost base for Polystyrene production, but this reduction in styrene costs was having minimal to no impact in polystyrene price movements in the subsequent weeks.

However, during the second week, Polystyrene prices increased notably for GPPS grade, up by almost 1.2% from the previous week despite stable styrene prices. This growth in price was because other logistical and operational challenges due to hurricane Rafael related issues. In addition, the price growth coincided with a significant increase in demand for styrene in the European markets, as several downstream buyers actively procured feedstock materials, particularly the packaging and consumer goods sectors, which were preparing for holiday-driven sales.

Yet, in the third week, Polystyrene prices reduced marginally for GPPS grade, showing a decline of about 1%. Styrene prices showed consistency during this week, but reduced demand from major Polystyrene consumers, including the electronics and construction sectors, contributed to the price adjustment. Buyers had already secured inventories earlier in the month, leading to moderated procurement activity.

In the final week of November, Polystyrene prices for GPPS grade again declined nominally to USD 1,680 per MT, reaching the same price level as in the first week of the month. This trend showed a series of average demand and stable feedstock costs. Styrene prices remained relatively stable throughout the month, because of which producers faced no significant cost pressure despite lowered downstream activity.

On a monthly average, Polystyrene prices during the month stood at USD 1,689 per MT for GPPS grade, a slight increase from October’s by approximately 1%. This marginal rise indicates a well-balanced market, where constant demand from packaging, electronics, and construction sectors compensated the supply pressures. Stable feedstock costs and balanced freight charges also contributed to steady pricing dynamics throughout the month.

Looking forward, the Polystyrene market is forecasted to experience a moderate decline in December. While holiday-driven demand may sustain moderate activity, market movements are expected to reflect a moderate decline as the year concludes. Market participants will closely study the feedstock styrene prices and potential logistical changes that could influence the market conditions.

Overall, the Polystyrene market in the US experienced moderate fluctuations in November 2024, with prices influenced by relatively stable styrene costs, consistent demand, and balanced freight charges. These factors are likely to continue driving the market as it enters 2025.