Expandable polystyrene (PSV-S) contract prices in the European market in October fell by EUR15-25 per tonne amid declining styrene contracts this month, ICIS reported.

Thus, the contract price of styrene monomer for consumers in the European market was agreed at the level of EUR721 per tonne for October deliveries, which is EUR33 per tonne lower than the level of the previous month.

In early October, PSV-S supply was less than expected, in part due to stable demand in the downstream sectors in September and lack of orders. However, in the second half of the month, the supply became more balanced. In addition, imports from other regions remained low and uncompetitive.

The demand for packaging for household appliances remains higher. This is because home renovation end consumers are buying more home appliances and this could continue.

Buyers’ interest in construction projects remains stable with no improvement compared to previous years, but higher than in September. Construction demand is expected to decline seasonally by the end of the fourth quarter, but there are concerns about the potential impact of the coronavirus on investment in new construction and projects next year.

According to the ICIS-MRC Price Review, by the end of 2020, in the opinion of some major Russian market participants, consumption of PSV-S in Russia is expected to decrease. In particular, the segment of low-rise construction will decrease this year by 30-40%, and if we count it for the total market of PSV-S heaters, then by 15-20%. In 2021, a narrowing of the high-rise construction market is expected, while it is operating in the mode of existing projects that must be completed on time. The market is expected to shrink by 20-30% in this segment.

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