16 July 2009 11:25 [Source: ICIS news]
SINGAPORE (ICIS News)--Demand for styrenic resins in the third quarter (Q3) could stay soft due to continued weakness in the ?xml:namespace>
“Some large factories in Hong Kong and southern
Demand for these resins was expected to be much weaker than the previous years, market sources said.
Resin traders in southern
“It is difficult to raise resin prices as demand looked likely to remain poor while SM (styrene monomer) values are under downward pressure,” said another trader in
Apart from weak demand, styrenic resin prices were being weighed down by declining feedstock styrene monomer (SM) prices, traders said.
SM values had retreated to below $1,080/tonne (€766.8/tonne) CFR (cost and freight)
Expectations of increased supply in August had exerted downward pressure on SM values, traders said.
Meanwhile, traders said spot prices of some brands of acrylonitirle-butadiene-styrene (ABS) resins remained below $1,400/tonne CFR China and
General purpose (GP) PS prices also showed signs of weakness this week with offers for resins of certain origins falling $30-40/tonne to mid-$1,100/tonne levels CFR China and
($1 = €0.71)
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