Plastics processors in need of polyethylene terephthalate are forced to pay more for the material as feedstock process climb, driven by a mixture of demand and some outages. For processors in Europe, polystyrene prices also are climbing as demand has steadily risen and is expected to continue climbing into March. Adding to the pricing pressure for PS is the upheaval in the Middle East which has sent crude oil prices to top, briefly at least, $100/barrel.
Plastics pricing consultancy ChemOrbis (Istanbul, Turkey) shared its interpretation of the current plastics pricing situation. For PET processors in Asia and Europe, prices are under upward pressure due to escalating feedstock prices, with the price hikes also powered in Europe by PET and PTA force majeures....