06 March 2012 08:10 [Source: ICIS news]
General-grade material was offered at yuan (CNY) 11,600-11,700/tonne ($1,838-1,854/tonne) EXW (ex-works) on 6 March while fire-proof grade material was offered at CNY12,400-12,500/tonne EXW, according to Chemease, an ICIS service in China.
The offers are much higher to the prices on 29 January, the first trading day after the Lunar New Year holidays, at CNY11,000-11,200/tonne for general purpose EPS and CNY11,800-12,000/tonne for fire-proof materials.
However, trading volume is small because buyers have previous stocks and downstream demand is poor, a market source said.
EPS is principally used as outer-wall insulation in northern parts of the country, accounting for around 45% of domestic demand.
Domestic EPS plants on an average are running at a low operating rate of 45-50%, slightly higher than the past few weeks, but still lower than normal levels of around 60%, a major producer in
Both producers and traders are also expecting a demand recovery from the middle of the month when construction industry starts activity amid warmer temperatures in the northern areas of the country.
Spot SM prices rose to $1,520-1,525/tonne CFR China on Tueday on the back of tightened supply and speculation, up from $1,420-1,440/tonne CFR China in late January.
Several SM plant turnarounds in the region during March and April and the lack of arbitrage cargoes from the
Additional reporting by Clive Ong
($1 = CNY6.31)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections