03 October 2012 08:56 [Source: ICIS news]
SINGAPORE (ICIS)--Asian suppliers of expandable polystyrene (EPS) have mostly kept offers unchanged this week amid the Chinese National Day holidays, market sources said on Wednesday.
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“Our offers are unchanged as feedstock styrene monomer (SM) prices are stable,” said a producer in
SM prices hovered in the low-to-mid $1,500/tonne CFR China levels amid thin trade.
With market players in
“We did not fix any deals so far this week as the markets are quiet,” said another producer in
Suppliers expect demand in the region to remain weak after the holidays as the third-quarter Chinese manufacturing season has started to wind down.
Also, the persistently poor global economic backdrop, despite the stimulus programme recently announced by the European Central Bank and the US Federal Reserve, is expected to continue dampening demand for Asian-made goods.
“With the Chinese exports of finished goods staying weak, consumption of EPS will likely be lacklustre,” said a Taiwanese producer.
Meanwhile, the Chinese construction sector will enter a lull season towards the end of the year, as winter sets in, and will lead to reduced demand for EPS used as insulation panels in roads and buildings.
Major EPS makers include the Loyal Group, Ming Dih Group and Taita Chemical of
($1 = €0.77)
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