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Warwickshire – 11th September 2025
Overview
Deflationary feedstock pressure starts to dissipate and may be a signal towards the future price direction of polymers.
Despite a further fall in crude oil prices, finally C2 ethylene and C3 propylene prices rolled over, although SM (Styrene Monomer) trended in the opposite direction to benzene and butadiene also recorded a sizable reduction.
In terms of polyethylene and polypropylene it is too early to fully assess the implication in this change of direction and much will now depend upon the supply demand balance for the polymers themselves and for now supply still appears to be quite adequate. Polystyrene prices are expected to drop in proportion with the fall in SM (Styrene Monomer), although the premium of HIPS over GPPS is expected to remain in place despite the fall in butadiene prices.
No doubt many converters will reference the upcoming holiday season as a further justification to maintain downward pressure on prices, and at this point it appears unlikely that there will be any significant increase in demand until the end of the summer.
Poor demand for engineering polymers continues to put downward pressure on prices. At this stage consumers’ concerns about tariffs, counter-tariffs and broader geo-political issues is diminishing confidence and so demand for consumer durables such as cars and white goods is severely hampered.
Further announcements by polymer producers contemplating the sale of European manufacturing assets further reflects the poor economics of manufacturing polymers in this region, which will potentially result in a greater dependence on imports for this in an increasingly uncertain world.
Monomer Price Movement
Feedstock
Price per Tonne
Change (contract)
C2 (Ethylene)
£957.58
£0.00
C3 (Propylene)
£856.34
£0.00
SM (Styrene Monomer)
£1,188.75
-£39.65
Benzene
£515.49
£21.94
Butadiene
£776.19
-£42.18
Brent Crude (monthly average)
£359.83
-£20.01
Exchange Rates
€
1.19
$
1.34
€/$
1.13
Mike Boswell
Executive Chairman – Plastribution Group
Oil Prices
No Data Found
Exchange Rates
No Data Found
UK Economic Data
Topic
Item
Date
Change
Trend
GDP
Real GDP (Q on Q)
Q4 2024
£642,287
PMI
UK Manufacturing PMI
June
46.4%
UK Output
Manufacturing Index
Q1 2025
101.3%
Sales
New Car Registrations (Y on Y)
May 2025 YoY
1.6%
Sales
Retail Sales (Y on Y)
April 25
107%
Labour
Unemployment Rate
Mar 25 – May 25
4.6%
Prices
CPI (Y on Y)
April
3.5%
Prices
RPI (Y on Y)
April
4.5%
Interest Rates
Bank of England Base Rate
May
4.25%
Polyolefins
June has started with some relative stability after a few months of uncertainty surrounding potential tariffs and sharp movements in monomers. Both monomers, C2 Ethylene and C3 Propylene have rolled over into June and the early consensus is for polymer prices to follow along the lines.
There is some downward pressure as demand continues to be poor and whilst not as widely available as it was, there is good availability in the market.
We may see some change in the coming months as there are some expectations of global shipping issues, it has been reported that USA orders placed now, cannot be shipped until August at the earliest due to a shortage of containers and space on vessels. This may lead to restricted availability in the medium term when these effects are felt in August / September.
We could also see some pre-buying depending on how the trade talks between the USA and potential partners progresses. The deal with the UK is not finalised and the EU are facing pressure to reach some agreement or face a resumption of tariffs on the 9th of July.
Ian Chisnall
Product Manager – Polyolefins
Polyolefins Feedstocks
£/Metric Tonne by month
No Data Found
LDPE
Supply
Demand
LDPE looks generally like a rollover in June; LDPE is typically a grade less affected by imports and is more local production for local consumption. With monomer rolling over, many producers have looked to keep prices stable. With some production in Europe curtailed, supply is better balanced with demand though this continues to be poor.
LLDPE
Supply
Demand
LLDPE is around a rollover this month but there is a little bit of downward pressure as availability of imports continues to be relatively strong in the continuing face of poor demand. However, the reported falls are small as producers are resisting after suffering the substantial drops of May. Shipping issues may affect pricing around 2-3 months from now as the major export hubs from the USA face container availability issues.
HDPE
Supply
Demand
HDPE has slipped a little, supply is very strong as the grade with the highest levels of imports into Europe recently. Although demand is apparently improving a little, it is not catching up as quickly as sellers would like. The drops are, however, quite slight, as producers suffered with the monomer plus reductions of May and are reluctant to give more. As with LLDPE, we could see container availability issues affecting the level of imports in 2-3 months’ time. This could see some pre-buying and prices increasing a little in the summer.
PP
Supply
Demand
PP pricing has slipped a little in June even with the monomer rollover. Demand in key sectors continues to be poor and supply is plentiful. Whilst we continue to see production issues in Europe, there are more than enough imports to compensate and whilst there continues to be uncertainty over the future of the European Petrochemicals Industry, they affects are way in the future.
Buyers are confident that they can secure what they need when they need it and even if prices do rebound in July, it is likely to be modest. As with PE, global shipping issues may cause some disruption to supply in around 2-3 months’ time.
Other Polyolefins
EVA pricing is rollover in line with monomer. Whilst supply is more limited than other PE grades because of the FM with Total and a recent fire at Versalis, demand is weak and is there is little concern over securing material. Polyolefin Elastomers are a rollover as they are priced quarterly.
Styrenics
Contract EU Styrene falls again.
Styrene Monomer has fallen by €47/T, settling at €1409/T.
For June, EU GPPS and HIPS reduced by €50/T and EU ABS followed. Non Flame retardant Import ABS Rollover. FR ABS facing increases due to FR Shortage.
GPPS/HIPS/ABS supply chains are still running at reduced rates, no doubt triggered by low demand. Converters and distributors are also running inventory at very low levels due to financial pressures. Therefore, any adjustments in polymer prices are likely to be passed on immediately.
Andrew Waterfield
Product Supervisor – Styrenics
Styrenics Feedstocks
£/Metric Tonne by month
No Data Found
PS
Supply
Demand
May SM fell €40/T, with Monomer settling at €1456/T. GPPS and HIPS Supply was normal, albeit at reduced levels as demand remained poor.
June brings a further fall in feedstock pricing (-€47) and Polymer prices have fallen in line. Material availability is good, with producers not feeling the need to enforce quotas. Demand remains low as usual.
ABS
Supply
Demand
May prices fell (SM -€40/t, butadiene -€60/t, ACN -€104/t). Availability was fine, but demand low due to the same reasons as PS.
June shows a further decrease for EU and Deep Sea ABS. Composite monomer prices have fallen again and improved forex rates are helping imported grades. Supply is good for standard ABS but expect shortages and price increases for FR ABS, due to a global shortage of Antimony Trioxide.
PC/ABS
Supply
Demand
As usual, PC/ABS price is following the trend of ABS, but supply/demand are not as extreme. FR PC/ABS is not affected by the Antimony Trioxide shortage, and is a good replacement.
Other Styrenics
SAN and specialities such as ASA and Q Resin continue to follow the price trend of ABS.
Engineering Polymers
The UK market for engineering polymers remains depressed with low demand and excess availability/stocks. This despite European producers cutting production. Imports from Asia continue to be high. There was renewed efforts to try to push any increases through, however with weak demand most polymers reduced in price.
The May benzene contract settled at €585/t, a reduction of €84/t from April, whilst June sees a slight increase of €26/t settling at €611/t.
Pete Tillin
Product Manager – Engineering Polymers
Engineering Polymer Feedstocks
£/Metric Tonne by month
No Data Found
PA6
Supply
Demand
The market remains particularly competitive due to weak demand and plentiful inventories.
PA66
Supply
Demand
PA66 is following the same trend as PA6 with weak demand and an incredibly competitive marketplace.
POM
Supply
Demand
A competitive market with plentiful supply, and poor demand.
PC
Supply
Demand
The week benzene contract price and poor demand means that prices continue to slide.
PMMA
Supply
Demand
Weak demand, coupled with reduced production in Europe.
PBT
Supply
Demand
Weak demand, particularly from the E&E sector, means prices remain under downward pressure.
Other Engineering Polymers
The current situation for most other engineering materials is similar, with weak demand, plentiful supply, and therefore downward price pressure.
Sustainable Polymers
Recycled Polyolefins has largely seen a rollover in June, in line with the price movements of Prime. Demand is not great but is improving slightly over recent months. Unfortunately, we have seen some recyclers go into administration this year and this has affected availability.
Ian Chisnall
Product Manager – Sustainability
Recycled LDPE / LLDPE
Supply
Demand
Recycled LDPE / LLDPE is rolling over in June in line with Prime prices. Some talk of increasing demand as converters plan for EPR implementation.
Recycled HDPE
Supply
Demand
Recycled HDPE has mostly rolled over in June, some slight improvement in demand has seen some efforts at increasing prices but these have largely been resisted as availability is typically good. Natural grades are seeing higher demand and continue to command a strong premium over Prime grades.
Recycled PP
Supply
Demand
Recycled PP has seen around rollover in June. Demand for natural recycled PP for consumer goods is still quite strong, and prices are staying high. Industrial grades are under some pressure as demand from key sectors is still weak.
