EPS demand rises on quake reconstruction effort

23 May 2008 10:36  [Source: ICIS news]

SHANGHAI (ICIS news)--Demand for expandable polystyrene (EPS) is set to increase by 60,000-70,000 tonnes in China due to the planned construction of temporary homes for victims of the devastation wreaked by last week’s earthquake, market players said on Friday.

 

About 1m such homes were scheduled to be built in the quake-hit southwest province of Sichuan, a source at a meeting of the nation’s Ministry of Housing and Urban/Rural Development said.  

 

The temporary houses would be constructed of lightweight steel panels filled with EPS, the source added.

 

Increased demand for EPS would also lead to a similar rise in the market for styrene monomer, traders said.

 

Meanwhile, high feedstock costs have seen domestic producers increase EPS prices by yuan (CNY) 500/tonne ($72/tonne) to a record high CNY14,000/tonne.

 

The official death toll stood at 55,239 people and eventual numbers were expected to exceed 60,000 from the quake, which was estimated to have cost 14,207 industrial enterprises in Sichuan about CNY67bn in damages.

 

($1 = CNY6.94)

 

To discuss the effect of the Chinese earthquake visit: The Chinese earthquake on ICIS connect

By: Dolly Wu
+65 6780 4359

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