Mexico’s Resirene cuts PS prices for July

15 July 2010 22:32  [Source: ICIS news]

HOUSTON (ICIS news)--Mexican polystyrene (PS) producer Resirene cut prices for all grades in July to account for lower feedstock costs amid softer demand, a company source said on Thursday.

The price reduction by Mexico’s main PS producer was uniform for all grades in the range of 2-3 cents/lb to compensate for lower feedstock costs.

Demand was slowly improving in July with better sales of disposables and also because many buyers who held purchases in June were running low and needed to restock their inventories.

Prices began to fall in June when they dipped by 3 cents/lb. This prompted many buyers to consume their own inventories while waiting for lower prices ahead.

Prior to the July reduction, ICIS-assessed general purpose PS (GPPS) prices in Mexico were in the range of $1,587-1,653/tonne DEL (delivered) (€1,254-1,306/tonne) while high impact PS (HIPS) prices were at $1,720-1,808/tonne DEL.

PS producers in Mexico include Resirene, BASF and Idesa. Americas Styrenics supplies PS products made in the US.

$1 = €0.79

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By: George Martin
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