Price rises and no end in sight. After the already dramatic increases in March, the wave continued rolling in April. Buyers had to plunk down EUR 500/t more on average for medium reactive ortho resins. Propelling the trend was the upward momentum for styrene along with bottlenecks and price hikes for all other starting materials, in particular glycols. Glass-fibre products also saw slight increases at the beginning of the month.
High prices noticeably curbed orders for both resins and glass-fibre products. At the same time, the automotive industry’s engine as a market driver began to stutter. Availability of glass fibre was sufficient, but imports were absent. Even with matrix material tight, supply was adequate. Converters continued to cover only their immediate needs in expectation that prices would drop before the end of the quarter. Here and there, some players curbed production and postponed projects.
In May, resins prices should add more of the EUR 87/t rise in the styrene contract.
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