Price Reports January 2026

The following information is provided by Plastics Information Europe.  For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read entire versions of the following reports, go to www.pieweb.com and sign up for a 48-hour free trial!

  Standard thermoplastics January: PE off to strong start, producers eye further hikes / PP stabilises amid plant issues / PVC prices bottom out / Styrenics, PET face upward momentum

PE: The development of the ethylene contract price in January (down EUR 25/t) played only a secondary role in many negotiations. Producers wanted to restore their margins and were supported in this by surprisingly lively ordering activity. For many types, agreements were reached between a rollover and an increase of up to EUR 70/t. Price reductions were reported only for HD grades. As a result of cutbacks at a number of production plants, the market was fairly well balanced. Delayed deliveries occurred only due to logistics problems. On the demand side, too, a surprisingly large number of incoming orders from customer industries in the second half of the month meant that many converters got off to a satisfactory start to the year. In addition, this was reinforced by stock rebuilding and catch-up effects from the previous year. For February, producers are planning with an optimistic “up, up, and up!” Their plans are supported by an ethylene contract that rose by EUR 15/t to EUR 1,095/t as well as by the balanced market situation. Even initial supply bottlenecks no longer seem impossible. At the very least, some producers are urging converters to place their orders early in the month. However, whether their advice is accepted remains to be seen. Some converters made favourably priced purchases at the end of last year and, in view of the current high prices, intend for the time being to work from their stocks. Caution prevails, particularly as they remain uncertain about the order situation and fear that order activity could cool again before long.

PP: The propylene contract price fell by EUR 30/t at the start of the year. As order intake picked up slightly in many areas, producers were able to retain part of the cost reductions on some contracts. In individual cases, a rollover was also set. Despite planned and unplanned plant curtailments, supply in the market remained unaffected. The oversupply was clearly noticeable, which caused some producers to resort to special deals in order to sell any material at all. In the first half of the month, the market was still largely inactive. From the third week onwards, there was a clear upturn in momentum, and many order books began to fill up. Processors suspected that this was due to stock replenishment and catch-up effects resulting from postponed orders from the previous year. What will happen in February? The propylene contract was settled EUR 15/t higher at EUR 965/t. As several production plants in Europe are plagued by problems, producers are likely to be in a position to pass on the higher costs. Several lines went offline at the end of January. With only limited imports arriving, the market is expected to become significantly more balanced. The number of production days is increasing slightly, pushing up demand.

PVC: The PVC market got off to a quiet start this year. In the first half of January, negotiations were slow to get going, and many early transactions were concluded at a rollover. Market activity picked up somewhat as the month progressed. At the same time, price levels fell. Towards the end of the month, most agreements made allowance for the pro-rata decline in the ethylene contract (down EUR 25/t). Little changed in terms of the supply situation. The market remained oversupplied, and capacity utilisation rates at European production plants stayed at a low level. A slight upturn was registered on the demand side in the second half of the month. In the PIE survey discussions, panellists made positive mention of the fact that the trend towards customers reducing their inventories seems to have come to an end. Looking ahead, a rising ethylene contract (up EUR 15/t) looks set to dominate discussions in February. Prices would seem to have bottomed out. Producers are expected to put forward demands for higher PVC prices in February. Offers from overseas have recently become less price-competitive again, and demand looks set to increase slightly, if only as a result of a higher number of production days.

Styrenics: The start to the new year 2026 was similar to the end of the old one: chilled. Demand remained subdued, especially as many players only resumed production in the second week of January. In terms of price, things were also rather calm after the styrene reference increased by a modest EUR 21/t. The slight cost increase generally carried over in full to polystyrene, while EPS only saw a proportionate cost transfer, or none at all. ABS also remained in rollover, as the reductions in the other cost components butadiene and ACN largely offset the price driver styrene. Signs point to more momentum emerging for February. While demand for styrenics is expected to remain rather subdued, prices are set to change more, as the styrene reference for February shot up by EUR 120/t. For PS and EPS, this might mean triple-digit mark-ups. For ABS, however, premiums will likely be more moderate, as the respective cost increases for butadiene and ACN were significantly lower than those for styrene.

PET: A certain amount of movement was seen on the European PET market in the first month of the new year. Asian PET prices went up. At the same time, disputes at the European ports led to delays in the delivery of imports. Given the consolidation of production in Europe and the resulting uncertainty regarding delivery, large customers in particular feared a more rapid rise in prices over the coming months. They therefore built up excess stocks as a precaution. This brought demand up to the normal level for the time of year, even though the end markets still failed to generate any strong momentum. Against this backdrop, suppliers managed to push through what were no more than moderate increases, depending on the starting level. The supply situation still appears to be precarious. If an event were to disrupt European production, many buyers fear this could lead to bottlenecks, followed by price increases. Quite a few are thus considering making further inventory purchases. Additional increases are therefore on the cards for February, if only for this reason.

For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read the entire report, go to www.pieweb.com and sign up for a 48-hour free trial!

  Engineering thermoplastics January: Sometimes up, sometimes down, but seldom stable: prices move in different directions / Uncertainty governs market / Trend reversal in February?

Prices for engineering thermoplastics showed a mixed picture in January. Polycarbonate, for example, crashed. Producers were not even able to pass through the higher benzene contract costs. Any attempts to do so were mostly ignored because demand was simply too weak. Polyamide prices, on the other hand, rose – only slightly, but an increase, nonetheless. PBT and POM also seem to have stabilised at their present levels. PMMA, however, fell, as good availability and weak demand put pressure on prices.

What is striking about this back-and-forth in prices is that all movements stemmed from the same cause, namely uncertainty. Market participants are still reluctant to venture any forecasts about how things will develop and when the economy will finally pick up. This hesitancy and indecisiveness of companies vividly illustrate the current mood in the German industry.

Another indicator is the near-total absence of any stock-building trends. For decades, January was the month in which converters put material onto their shelves in preparation for the seasonal upswing. This year, nothing of the sort. When converters that can afford it do buy material, they do so on the spot market. The importance of contracts continues to decline.

For February, producers have already placed their calls for increases on the market. However, the prospects of obtaining the full amount are small because demand still leaves much to be desired. Nevertheless, a trend reversal may begin to take hold.

For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read the entire report, go to www.pieweb.com and sign up for a 48-hour free trial!

 Polyurethane feedstocks January: Demand stagnates again while prices trend mixed / TDI imports push onto European market

Weak demand and a wide-open arbitrage window from Asia put noticeable pressure on TDI prices in January 2026. Asian suppliers stepped up exports to Europe, as US tariffs have made business with US customers unviable. What is striking is that large volumes of Hungarian material are still being exported to the US. Nevertheless, availability on the European market was good.

No end to the downward trend is in sight for February. All eyes are on Covestro and the question of when material from the Dormagen line, which has been shut down for some time, will be back on the market. If this is the case, the discounts could be more significant than previously expected.

MDI, on the other hand, saw slight increases in the wake of the benzene contract, which rose by EUR 30/t in January. The PIE panel reported price changes in a fairly broad range, from rollovers to increases of up to EUR 100/t.

Demand across the entire PU sector is still expected to stagnate in February without significant momentum. Only a small segment of the PIE panel has said that they are already noticing a gradual upward trend. The majority, however, is not convinced.

For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read the entire report, go to www.pieweb.com and sign up for a 48-hour free trial!

  Composites/GRP January: Weak demand and a reasonably well-supplied market / No stock replenishment trends evident / Rollover likely in February

The new year started in the same way as the old one ended, with weak demand encountering increased styrene costs. Market participants generally agreed to leave prices unchanged for contract transactions. The supply situation was still more than adequate, largely as a result of the subdued demand. As neither the automotive industry nor the E&E and construction segments got off to a flying start in January, demand stayed at rock bottom. Stock replenishment effects were only evident in very rare cases – and then only on the basis of special deals. All in all, demand was at the lower end of what is considered normal for January.

For February, the styrene contract has risen sharply by EUR 120/t. Producers will not want to – or be able to – absorb this price increase on their own. Price adjustments therefore seem highly likely for ortho resins. Potential restocking trends could also keep prices up. However, as increased volumes of low-priced imports are expected once again, prices are likely to tend towards another rollover. Order activity in February is also anticipated to remain in a period of adjustment.

For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read the entire report, go to www.pieweb.com and sign up for a 48-hour free trial!

 Standard recyclate January: Sluggish economy continues to dampen demand / Mostly rollover / Only very slight recovery expected for February

Last year, it was the newly adopted or already effective recyclate quotas that fuelled a significant price increase. By the beginning of 2026, this effect had fizzled out. The sluggish economy weighed heavily on the recycling industry. As a result, there were mostly rollovers in January, if not downward price adjustments. What’s more, the small price gap to primary material virtually guarantees that processors primarily choose virgin plastics. This led to minor price concessions in some negotiations.

Recyclate lines started up again after their maintenance shutdowns, although their capacity utilisation remained below normal. Despite some extended shutdowns around Christmas and New Year’s, pelletisers continued to sit on high stocks and were able to respond quickly to orders.

In the coming month, recyclers will probably be able to implement at least selective price increases. For standard grades, some negotiations are also likely to result in a rollover. However, the market is yet to really revive or even ramp up. The output of the throttled lines will be sufficient. Recyclers will still have to wait before being able to reduce their stocks. Volume calls are still more likely to be placed for favourably priced virgin material. Demand for recycled materials hardly seems to improve. It is thus unlikely that demand will reach normal levels.

For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read the entire report, go to www.pieweb.com and sign up for a 48-hour free trial!

 Engineering recyclate January: Price floor reached for many types; reductions prevail otherwise / Demand remains below average

Price trends for engineering recyclate were mixed in January 2026. For some types, recyclers managed to establish a price floor and achieve a rollover. Others, however, had to accept price reductions in order to make any sales. If prices for virgin material were finally to bottom out, this would be good news for all recyclers, as weak demand otherwise threatens to push recyclate prices even lower.

Many compounding lines returned to normal operation after the Christmas and New Year holidays. This was possible without issue, as availability of feedstock was described as ample. On the demand side, however, there were reports of only minimal stock-building activities. Overall, the number of incoming orders for converters was still well below normal.

Below-average demand is expected to continue in the coming month, but recyclers are likely to try and keep their prices stable. Increases should be possible for many types at the start of the second quarter at the earliest. At present, there are no signs of economic momentum, and processors are therefore speculating on further, slight price adjustments.

Output from compounding lines is likely to remain at normal level given the continued good availability of base material. However, as the price gap between recyclate and virgin material continues to narrow, processors fear that customers will pressure them to switch back to primary material. This is keeping demand for recyclates at a low level.

For more than 35 years, PIE has been an invaluable source of information for European plastics industry decision makers - a quick, yet in-depth look at the development of plastics markets and polymer prices. Available online 24/7 and as a printed newsletter twice a month. To read the entire report, go to www.pieweb.com and sign up for a 48-hour free trial!