China PS supply falls to 6-month low on feedstock

02 July 2008 11:22  [Source: ICIS news]

SHANGHAI (ICIS news)--China’s domestic polystyrene supply dropped to its lowest level in June due to reduced output on high prices of feedstock styrene monomer (SM), which was at yuan (CNY)12,500/tonne ($1,822/tonne), said traders and producers on Wednesday.

PS was trading at CNY13,100-13,500/tonne ex-warehouse in Jiangsu province, said traders.

"We hardly make any profits with such high feedstock prices," said a producer in Jiangsu, referring to the narrow margin between SM and PS.

Guangzhou Petrochemical in south China was keeping its 60,000 tonne/year PS units offline after shutting it down on 2 June. A company source said that the units would be restarted in the second half of July.

XinZhongmei Chemicals, another PS producer in south China, which had shut down its unit on 20 June, had also not resumed PS production and currently had no inventory, a company source said.

($1=CNY6.86)

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By: Dolly Wu
+65 6780 4359

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