Asia PC stagnates on low demand, ample supply

22 May 2008 05:47  [Source: ICIS news]

SINGAPORE (ICIS news)--Spot prices in the Asian polycarbonate (PC) market remained stable-to-soft on ample supply and lacklustre demand in the key Chinese market, traders said on Thursday.

Optical grade PC and GP moulding PC prices have slipped 5% or $130-140/tonne since early this year to $2,430-2,460/tonne CIF (cost, insurance and freight) Hong Kong and Taiwan, and $2,680-2,700/tonne CIF Hong Kong respectively, according to global chemical market intelligence service ICIS pricing.

Producers said they wanted to raise prices to meet rising manufacturing costs and eroded margins, but acknowledged that it was difficult to realise any price hike in an over-supplied market.

Most sellers said that they planned to roll over PC prices in June despite soaring upstream and utilities costs, as demand remained lukewarm amid strong price competition.

Buying sentiment remained weak, with buyers purchasing only on a need-to basis as they expected limited upside for PC in the near term.

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By: Liu Xin
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