08 May 2008 08:53 [Source: ICIS news]
SM prices have risen more than $50/tonne to above $1,500/tonne CFR (cost and freight)
However, PS prices could not increase in tandem as end-user demand remained slack.
“Buying interest remained sedate after the Labour Day holidays and buyers were unwilling to pay higher prices for resins,” said a PS trader in
General purpose PS (GPPS) prices were mostly around $1,520-1,530/tonne CFR China and
“At such prices, PS has almost no margins,” said a resins trader in
Typically PS suppliers need around a $80-100/tonne spread over SM prices for GPPS and $160-180/tonne premium over SM for high impact PS (HIPS).
Margins for the later had also been severely squeezed as feedstock polybutadiene rubber (PBR) values had increased unabated over the past few months.
HIPS sellers had targeted a $70-80/tonne premium over GPPS but could achieve no more than a $30-40/tonne difference.
Major producers of PS in
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