15 July 2011 12:01 [Source: ICIS news]
SINGAPORE (ICIS)--Spot prices of polystyrene (PS) in the Middle East may rise in the coming weeks after holding steady since the start of the month, in line with firmer feedstock costs and improved demand, industry sources said on Friday.
On Friday, PS prices were assessed steady at $1,580-1,620/tonne (€1,122-1,150/tonne) CFR East Mediterranean/GCC (Gulf Cooperation Council) for general-purpose PS (GPPS) and $1,800-1,850/tonne CFR East Med/GCC for high-impact PS (HIPS).
End-user demand is likely to pick up over the coming weeks ahead of Ramadan in August and towards the end of the Muslim fasting month, traders said.
Meanwhile, a rebound in prices of feedstock styrene monomer (SM) and firm values of co-feedstock polybutadiene rubber (BR) supported PS prices in the ?xml:namespace>
On 8 June, SM prices were assessed at an average of $1,455/tonne CFR China, up $70/tonne from the previous week, according to ICIS data.
Average prices of BR, on the other hand, were at $4,550/tonne
In addition, firmer Asian PS prices had given market players in the
A south Asia-based producer is waiting for
Another producer in south Asia, meanwhile, has raised its PS offers into the
GPPS material is used in food packaging, such as food and dairy containers, closures, lids, vending cups, fast food containers and utensils. The HIPS material is used for domestic appliances, construction, electronics, furniture and toys.
($1 = €0.71)
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