Low Demand Causes the Price of Styrene Copolymer to Decline in the Global Market

Prices for Styrene Copolymer were found to be rising 6% month over month in the United States. Rapid legislative change is currently having an impact on the US packaging industry; hence the market remained restricted. The US polymer market is uncertain as a result of Joe Biden's and his administration's recent announcement that they want to replace 90% of polymers with biomaterials during the next 20 years.

The projected price for Styrene Copolymer was USD 1120/MT FOB US Gulf, the same as last Friday's estimates. Quotes for Styrene Acrylic Acid Copolymer FOB Louisiana (USA) changed in tandem with the market price of Styrene, the feedstock. The average price for Styrene Acrylic Acid 90 Solid CFR JNPT (India) during the month of April was estimated at USD 1348/MT.

Despite decreased feedstock costs, Styrene values and Styrene Copolymer prices remained stable this week across Asia. The purchasing pulse was reported to remain stable as buyers adopted a wait-and-see attitude in order to gain a thorough picture of the market outlook.

Over the previous month, the spot prices for Styrene Copolymer decreased across Europe. The region's overabundance of commodities negatively impacts prices. The region's demand emotions were reportedly subdued. This week, export prices for Styrene Copolymer decreased in the US. Vendors of Styrene Copolymer were allegedly forced to dramatically lower their export prices due to continually sluggish purchase inquiries from international markets.

In the Asian market, a number of petrochemical manufacturers offered decreased prices. The amount of capital in circulation at the moment is adequate, but the recovery of the downstream demand has gone more slowly than expected, and business confidence is insufficient. On the other hand, Styrene price is high, and the domestic Styrene Copolymer market is predicted to increase slightly soon.

ChemAnalyst predicts that prices for Styrene Copolymers will remain low as there is no indication of increased demand in the main exporting countries. In the West, the average capacity utilization is unchanged from last month. Additionally, the buyers are acquiring the materials as needed. As a result, ChemAnalyst keeps track of changes in the demand-supply dynamics and upstream crude oil prices to determine how Styrene Copolymer prices shift in various geographic areas.