10 November 2009 08:38 [Source: ICIS news]
SINGAPORE (ICIS news)--Spot polystyrene (PS) and acrylonitrile-butadiene-styrene (ABS) prices have been stagnant despite rising feedstock costs, as end-user demand has remained weak, industry sources said on Tuesday.
Prices of styrene monomer (SM) - the feedstock for PS - had risen to around $1,060/tonne (€710/tonne) CFR (cost and freight) ?xml:namespace>
Styrenic resin sellers said business had been thin when they hiked their offers for PS by some $20/tonne this week to $1,160-1,180/tonne CFR China, with offers for ABS nudged up by as much to $1,480-1,520/tonne CFR China.
They said it was difficult to increase plastics prices due to lacklustre demand in the key Chinese market.
"Demand for plastics in southern
“End-users were resistant to the price hikes as November and December are typically slow months,” said a Taiwanese producer.
Resin suppliers were keen to raise prices, citing squeezed margins from rising SM numbers. However, they conceded that price targets were difficult to achieve as export demand continued to wane.
Meanwhile, demand in China mostly along eastern parts of the country has remained ample but the buying pattern among local end-users was erratic, industry sources said.
“Local buyers would come out to buy material when prices ease and stay away when prices increase, hence it is not easy to gauge buyers behaviour," said another trader in
Also, the weaker prices in southern
($1 = €0.67)
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