04 September 2012 07:49 [Source: ICIS news]
By Clive Ong
Spot prices of polystyrene (PS) remained largely below $1,600/tonne (€1,264/tonne) CFR (cost & freight) China while acrylonitrile-butadiene-styrene (ABS) prices were below $2,000/tonne CFR NE (northeast) Asia on 4 September.
ABS prices have been at this level since mid-August and PS have remained at this level since early April this year, according to ICIS data.
A number of producers were targeting prices at above $1,600/tonne CFR China for PS and $2,000/tonne CFR NE Asia for ABS but their efforts had not success.
The producers have been targeting for the price hike from August as this is the middle of manufacturing peak season.
However, the initiatives were derailed as weak economic conditions in the
“The appetite of end-users for resins remains weak and shows little sign of improvement,” said a trader based in
The third-quarter manufacturing season for exports in
“So far, demand for PS and ABS has not improved despite the traditional peak demand season,” said a producer in
A number of traders and producers are of the opinion that styrenics demand is unlikely to pick up in September given the poor global economic backdrop.
“There is little hope of a significant rebound in plastics demand as we are approaching the tail end of the manufacturing season,” said a resins trader in
The average operating rate of PS and ABS plants in
ABS is a hard plastic used in the manufacturing of toys, consumer electronics, appliances and office equipments.
PS is used for packaging, toys as well as appliances.
($1 = €0.79)
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