Bullish Raw material price will likely to surge the prices of Polystyrene for February 2022 in Saudi Arabia
In this week, the prices of Polystyrene were observed to 1942/ton Ex-Riaydh with the increment of 1.13% compared with December where prices were $1920/ton Ex-Riyadh. With the reviving market dynamics and increasing downstream sector it is expected that SABIC along with major Polystyrene producer in Saudi Arabia will increase the prices of Polystyrene along with its feedstocks mainly Ethylene, Benzene and Styrene Monomer. In February 2022, the prices of Polystyrene can increase by 5% to 7% and can observed to be hovering around $2040/ton- $2077/ton Ex-Riyadh. With the recovering demand and increasing domestic demand the prices of Polystyrene may increase by another 5%-7% by February 2022. The downstream market is observed to be escalating in Saudi Arabia where the product is being used in making appliances and other electronic things. Scrutiny by End user Industries was also developed as Benzene, which is one of the feedstocks of Polystyrene can be recycled many times and used in the ...