Asia EPS rises $20-30/tonne to hit 12-year high

09 April 2008 09:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Prices of expandable polystyrene (EPS) resins in Asia have risen $20-30/tonne this week to reach a 12-year high, sellers said on Wednesday.

 

Producers had raised offers to $1,600-1,625/tonne CFR (cost and freight) China on buoyant energy prices and persistently firm feedstock styrene monomer (SM) values.

 

The previous peak was set in late August 2004 where trades were registered at $1,570-1,580/tonne CFR China for packaging grade resins, according to global chemical market intelligence service ICIS pricing.

 

“While demand remained weak since the end of the Lunar New Year holidays in February, high SM costs gave us no other choice but to move up EPS prices in tandem,” said a Taiwanese producer.

 

So far, some trades into Hong Kong had been finalised at $1,570-1,580/tonne CFR but business on the whole remained slow, said another Taiwanese supplier.

By: Clive Ong
+65 6780 4359

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