23 August 2012 08:56 [Source: ICIS news]
Offers for packaging grade EPS were unchanged week on week at $1,600-1,620/tonne (€1,280-1,296/tonne) FOB (free on board)
Meanwhile, SM prices have increased to above $1,450/tonne CFR (cost & freight) China this week on the back of buoyant crude futures at above $97/bbl, they said.
“Our margins are squeezed by rising costs, but buyers are unwilling to accept higher resin prices,” said a EPS producer in
Weak exports of finished goods to
“Demand for EPS this year is definitely much poorer than last year,” said an east
The slowdown in the Chinese economy has also resulted in weaker EPS consumption from the construction and infrastructure sectors. EPS is also used as a flame resistant insulation in buildings and roads.
“We would be happy to consider any bids at $1,600/tonne and more, but enquiries are just so few in recent weeks,” said another Taiwanese producer.
Buyers were said to have accumulated sufficient inventories in July to tide them over immediate requirements, and hence most were in no hurry to purchase more as usage remained slow.
Major EPS makers include the Loyal Group, Ming Dih Group and Taita Chemicals of Taiwan and the Xingda Group, Leasty Chemicals, Garson Chemicals of China.
($1 = €0.80)
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