23 May 2012 08:59 [Source: ICIS news]
By Clive Ong
Offers of packaging resins were around $1,600-1,630/tonne (€1,264-1,288/tonne) CFR (cost and freight) NE (northeast)
Spot EPS prices were assessed at $1,660-1,690/tonne CFR NE Asia in the week ended 18 May, down $40/tonne week on week, according to ICIS.
Prices of feedstock SM, on the other hand, have declined to around $1,360/tonne CFR China this week, down by more than 9% from early May, ICIS data showed, amid a flaring up of concerns over the eurozone debt crisis.
The eurozone’s debt crisis, as well as
“Customers [of EPS] are lobbying for parcels below $1,600/tonne, with some indications at around $1,550/tonne,” said a producer in
Weak economic conditions in the
EPS is used for packaging of food and consumer electronics.
“The slower property sector in
While few suppliers have quoted prices below $1,600/tonne CFR NE Asia, some conceded that prices will have to decline if sellers wanted to engage customers.
“Definitely, there will be limited buying interest at $1,600/tonne CFR NE Asia and above. Most buyers are looking at around $1,550/tonne,” said another Taiwanese producer.
Major EPS makers in NE Asia include
($1 = €0.79)
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