13 March 2013 21:54 [Source: ICIS news]
MEXICO CITY (ICIS)--Mexico’s domestic polystyrene (PS) producer Resirene will keep prices steady in March, a company source said on Wednesday at Plastimagen, a large exhibit for plastic markets in Mexico.
Demand has been soft in February and has remained this way through March.
Feedstocks are getting more stable, supporting the current price stability for PS, but sellers are more concerned about demand from downstream sectors.
March sales could easily be lower than February’s, considering that the Plastimagen event has slowed sales activities in Mexico, and the Easter week celebrations will shorten the number of business days even further this month.
Prices from other suppliers in the region have also been steady, with price stability in the US, which also sells PS in Mexico.
The February styrene contract in the US has had initial settlement this week at levels flat with January, supporting stability of the downstream chain in the short term.
Demand from Central America has declined because of intense competition with product from the US and South America, the source said.
Currently, PS prices in Mexico are at $1,899-1,944/tonne (€1,462-1,497/tonne)FOT (free on truck) for general purpose polystyrene (GPPS), while high impact polystyrene (HIPS) is at $2,187-2,254/tonne FOT.
Resirene’s domestic production is normal, and there are no shortages of material for any grade.
Plastimagen runs until Friday.
($1 = €0.77)
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