30 April 2012 09:08 [Source: ICIS news]
By Clive Ong
SINGAPORE (ICIS)--Major sellers of expandable polystyrene (EPS) resins in ?xml:namespace>
Offers are being quoted at around $1,700/tonne CFR (cost and freight) NE (northeast)
With prices of feedstock SM at above $1,500/tonne CFR China since the second half of April, EPS resins’ makers had to increase prices to maintain adequate margins, market sources said.
“Some end-users have accepted the higher prices as demand is likely to continue to strengthen towards the middle of the year after the May Day lull,” said another EPS manufacturer in
EPS plants in
A seasonal pick-up in activities in the construction sector – a main downstream of EPS – boosted demand in
The Chinese markets are closed for public holidays on 30 April to 1 May.
However, end-users are now starting to find difficulty in passing on the costs of the resins to their end-products.
“At current prices, our margins are squeezed as end product prices have not increased,” said an end-user in
Over the past decade, EPS prices traded at a low of $672/tonne CFR NE Asia in May 2003 and touched a peak of $1,850/tonne CFR NE Asia in June 2008, ICIS data showed.
EPS is made into styro-foam which is used for packaging as well as insulation panels in houses and roads.
($1 = €0.76)
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