08 June 2010 23:12 [Source: ICIS news]
Initially, producers were seeking to implement a 5 cent/lb ($110/tonne, €92/tonne) price increase effective 15 May. This was postponed until 1 June.
Producers consulted agreed that only a 2-3 cent/lb increase was taking hold. The reduced cost of feedstock preserved production margins.
The price increase has enlarged the gap with offshore EPS beads from Asia, which are expected to arrive in the high 70s cents/lb in July, when domestic EPS prices may be again under pressure.
By comparison, domestic prices in the US are in the low-to-mid 80s cents/lb, while prices in Mexico are a few cents higher, according to global chemical market intelligence service ICIS pricing.
Sales volumes were slightly down in June so far compared with those of April and May, and this was attributed to buyers holding for lower prices ahead, producer sources said.
The main North American producers are BASF, NOVA Chemicals, Flint Hills Resources, StyroChem, Nexkemia, Idesa and Polioles.
($1 = €0.84)
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