28 November 2012 08:06 [Source: ICIS news]
SINGAPORE (ICIS)--Gulf Cooperation Council (GCC) polystyrene (PS) producers announced a rollover of prices from November for December-loading cargoes, market sources said on Wednesday.
Prices for general purpose PS (GPPS) were rolled over from November at $1,800/tonne (€1,386/tonne) DEL (delivered) GCC for December shipments, and offers for high-impact PS (HIPS) loading in December were unchanged from November levels at $2,000/tonne DEL GCC.
Regional demand for PS in the region continues to remain weak, on account of the approaching year-end as a number of buyers prefer to hold lean inventories during this period.
Additionally, PS demand from the downstream frozen and packaged foods sector is low during the ongoing winter season, which is weighing on PS prices.
Demand for PS is expected to pick up in January, ahead of the spring season.
($1 = €0.77)
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