The contract prices of US polystyrene (PS) for April 2020 declined due to lower feedstock costs and weaker demand, market sources told SSESSMENTS.COM. US PS contracts for April fell by 9 cents/pound ($198/ton). April contracts for high impact polystyrene (HIPS) and general-purpose polystyrene (GPPS) standing at 61-66 cents/pound and 56-61 cents/pound delivered in bulk US, respectively.
Market sources informed SSESSMENTS.COM that the current bearish macroeconomic outlook and low oil prices had dragged benzene and styrene feedstock costs. The demand for PS also declines overall, although some sectors showed some improvements.
