US EPS dips 3 cents/lb in July on weak demand, Asian imports

06 July 2010 20:29  [Source: ICIS news]

HOUSTON (ICIS news)--Weak demand and pressure from Asia sent prices for US expandable polystyrene (EPS) lower for July, sources said on Tuesday.

A lagging recovery in the North American construction industry and weak demand from Europe had buyers and sellers settling July contracts down 3 cents/lb ($66/tonne, €53/tonne) for July, depending on quantity and other contract terms, the sources said.

Falling EPS prices in Asia caused by weak demand from China contributed to the price drop as North American producers fought to stay competitive with less expensive Asian imports, a source said.

US producers of EPS include BASF and NOVA Chemicals.

($1 = €0.80)

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By: Frank Zaworski
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