18 June 2012 09:56 [Source: ICIS news]
SINGAPORE (ICIS)--The prices of styrene monomer (SM) in ?xml:namespace>
Offers for July parcels were at above $1,300/tonne CFR (cost & freight)
Some buying interest has emerged. “The market is generally still quiet, but bids for August cargoes have appeared at $1,290-1,300/tonne CFR China,” said a trader in
Most players in Asia are adopting a wait-and-see stance, preferring to wait for the
A numbers of traders in
“The Chinese manufacturing season in the third quarter should spur demand for resins and SM in the near term,” said a South Korean trader.
Others, however, are less sanguine and expect further volatility in the market, given the ongoing debt woes in the eurozone. The weak economic conditions in the
“The market has strengthened after the Greek election over the weekend, but risks remain as there are still a lot of uncertainties out there,” said another trader in
Some end-users of SM are emerging from the sidelines to enquire about cargoes and prices, which appeared to have bottomed out.
“If more end-users appear, that will signal that the market could continue to firm,” the South Korean trader added.
SM is a liquid chemical used to make plastic resins such as polystyrene (PS) and acrylonitrile-butadiene-styrene (ABS) as well as synthetic rubbers such as styrene-butadiene-rubber (SBR) and styrene-butadiene-latex (SBL).
($1 = €0.79)
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