PS prices down 5-7% in Argentina

08 January 2009 23:56  [Source: ICIS news]

HOUSTON (ICIS news)--Argentina’s main polystyrene (PS) producer, Petrobras Energia, reduced prices for all grades by an average of 5-7% effective on 1 January, a company source said on Thursday.

Market sources complained that the reduction was too little, too late, in view of falling international prices of benzene, styrene and ethylene, which are the main feedstocks for PS.

Demand was soft in the country due to the summer vacation season, the effects of the global crisis and the willingness of transformers to keep inventories as low as possible.

High prices were also a deterrent for buyers who compared domestic prices with cheaper imports. However, imports have not played a big role in Argentina in recent months.

Starting at about $1,800/tonne (€1,332/tonne) for general purpose PS (GPPS), Argentina has some of the highest prices in the region, second only to Venezuela.

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By: George Martin
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