11 April 2012 09:17 [Source: ICIS news]
By Clive Ong
"The high SM costs have squeezed our margins and we intend to hold on to our resin offers,” said an EPS maker in
Spot SM prices have hovered around $1,470/tonne CFR (cost & freight)
EPS producers said that though demand is lacklustre and deals have been limited at current offers, they have decided to keep quotations steady as lower offers are unlikely to increase buying interests.
"Buyers are likely to remain non-committal even with lower prices, so there is no point in reducing offers," said a producer with plants in
Demand for Asian-made EPS from the
However demand from the Chinese construction sector could improve towards the middle of the year.
"The construction peak during the summer months in
Despite the expected increase in demand, a resin trader in Hong Kong said
The average EPS operating rate in
EPS resin has a short shelf life of around six months, and some makers in
EPS is made into styrofoam which is used for packaging as well as insulation panels in buildings and roads.
($1 = €0.76)
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