28 June 2006 08:29 [Source: ICIS news]
Buying interest has been weak since May as volatile styrene monomer (SM) feedstock values prompted buyers to adopt a cautious stance. At the same time, higher resin prices have squeezed margins of moulders who could not pass on the costs to their buyers.
These factors have resulted in lower PS purchases over the last two months, with suppliers reducing prices in a bid to entice buyers.
Offers were cut in mid-June to $1,340/tonne CFR Southeast Asia for general-purpose PS (GPPS) and $1,380/tonne for high-impact PS (HIPS), around $100/tonne lower than several weeks ago.
Buyers, however, remained non-committal and a supplier said sales had dipped by almost half in June.
Total Petrochemicals’ 75,000 tonnes/year high impact HIPS facility and Denka’s 150,000-200,000 tonnes/year GPPS unit in
Operating rates at Idemitsu
Sellers anticipated that demand was likely to pick up only from the second half of July, as the third quarter is the traditional manufacturing season in
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