01 February 2013 18:11 [Source: ICIS news]
HOUSTON (ICIS)--At least two of Brazil’s polystyrene (PS) producers are seeking a 5% increase for all grades of PS in February, on the heels of another strong increase implemented during January, company sources said on Friday.
However, in recent weeks the local currency has recovered at about R1.98 per US dollar.
The January increases have taken hold but with much resistance from buyers. One producer said January sales ended 2% over January of 2012 and was definitely better than those of December.
Producers are optimistic about the prospects for February, but the Carnival holidays and a decrease on feedstock benzene costs could embolden buyers to resist further increases.
Production has been normal in January.
Brazilian PS prices finished January in the range of $2,374-2,474/tonne (€1,757-1,831/tonne) FOT (free on truck) for crystal grade, while high-impact PS (HIPS) prices were at $2,475-2,626/tonne FOT, based on ICIS data.
Prices in Brazil include the PIS/Cofins taxes, which add on average about 10% to the price.
The main PS producers in Brazil are Unigel, Innova and Videolar.
($1 = €0.74)
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