Dow Europe GmbH Announces Price Increase for STYRON Polystyrene
Dow Europe GmbH is announcing a price increase for all grades of its STYRON polystyrene resins, effective across the European region. Beginning February 1, 2003 Dow Europe polystyrene prices will rise by 150 Euro per metric ton for general purpose polystyrene resins (GPPS), and by 175 Euro per metric ton for High Impact Polystyrene resins (HIPS) and STYRON A-TECH* advanced technology polystyrene resins.
"We continue to face increases in our feedstock costs in light of recent rises in crude oil prices and more substantially due to the general tightness of the styrene monomer market," said Brett Simpson, product marketing manager for Dow STYRON in Europe. "Furthermore, the continued high level of uncertainty in markets driven by instability in the Middle East region remains.
"Another critical element is the restoration of the delta between HIPS and GPPS prices given the constant erosion over recent years combined with significant rises in butadiene prices faced by the industry over the same period. The combined impact of these issues on our business, requires us to work to achieve more sustainable margin levels," he said.
As the largest global polystyrene producer, Dow has approximately 2.1 million metric tons of polystyrene capacity worldwide; leading position and manufacturing facilities in Europe, North America, Asia/Pacific, and Latin America; and global integrated feedstock capabilities.
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