16 January 2013 22:58 [Source: ICIS news]
The increase was motivated by higher feedstock costs and currency devaluation.
Feedstock prices have been rising to all-time record levels, but government officials have not authorised a price increase in
The current increase is stronger than those seen in the region for January – about 3 cents/lb ($66/tonne, €50/tonne) – but it is intended to compensate for the months when feedstock prices rose and PS price increases were not allowed.
Currently, general-purpose polystyrene (GPPS) prices in
Another factor in the price erosion of commodities is the decline of the local currency relative to the US dollar.
At the start of this year, the US dollar was at
The so-called “blue” dollar (informal market) is currently at Ps7.50, as reported by local media.
($1 = €0.75)
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