08 October 2012 18:28 [Source: ICIS news]
BUDAPEST (ICIS)--Demand is still dropping in the European polystyrene (PS) market but has stabilised following year-on-year double digit percentage declines earlier in 2012, the CEO of Styrolution said on Monday.
The downturn was centred on much weaker demand in Italy, the number two PS market in Europe.
Demand from the auto industry in Europe is holding up and compensating for weakness in southern Europe, he added. ABS and co-polymers in the US are benefitting from quite good demand from the automobile sector.
Styrolution was preparing for tough times and headwinds in northeast Asia, the Styrolution CEO added.
Demand for ABS in China stopped growing in the first quarter of this year, with the country’s market for re-exported goods suffering badly.
“This part of the market has suffered quite a lot and the local market has experienced a slowdown,” Gualdoni said. The impact of weaker market demand has been exacerbated by new capacities coming on stream
The annual EPCA meeting runs from 6-10 October.
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