21 March 2012 08:22 [Source: ICIS news]
SINGAPORE (ICIS)--A number of Asian expandable polystyrene (EPS) producers have reduced their offers this week by $30/tonne (€23/tonne) in a bid to engage buyers, market sources said on Wednesday.
Offers of packaging resins were quoted at around $1,670/tonne CFR (cost and freight) NE (northeast) ?xml:namespace>
Some suppliers, however, maintained offers at $1,700/tonne CFR NE Asia, but conceded that buying interest was limited. Even those who quoted lower at $1,670/tonne CFR NE Asia are also having difficulty moving volumes.
“Even at $1,670/tonne, buyers are hesitant to commit,” said a producer in
Buying indications were heard lower at $1,650/tonne CFR NE Asia but most suppliers appear unwilling to commit at this price.
“The cost of production of EPS remains high, so it is difficult to drop prices too much,” said another maker in
Demand for EPS in the key
Apart from being made into styro-foam for packaging purposes, EPS is also used to make insulation panels for buildings and roads.
EPS resins’ short shelf life of around six months deter manufacturers from overstocking.
Asian suppliers who export resins to Europe and the
The debt crisis in the eurozone and escalating tensions between
($1 = €0.76)
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