23 April 2013 21:23 [Source: ICIS news]
HOUSTON (ICIS)-Mexican expandable polystyrene (EPS) prices were assessed down by 3 cents/lb ($66/tonne, €51/tonne) on Tuesday, based on lower feedstock costs and weaker demand.
While some sources said prices fell by as much as 4 cents/lb, on average, prices were down by 3 cents/lb for all grades of EPS, based in part on lower benzene costs, and in part on lower-than-normal demand, sources said.
The Mexican EPS market followed a similar trend to that in the US, where prices also fell by 3 cents/lb in April, also on lower benzene costs, which dropped by 7% to $4.36/gal for April contracts.
In addition to the weaker feedstock costs, the Mexico market has also faced poor demand in the important construction sector, with very few new construction projects having started up this year, according to buyers and suppliers.
Sources are expecting stable pricing in May, based on a slight uptick in spot benzene costs.
With the price decrease, Mexico EPS prices were assessed by ICIS at 113-116 cents/lb for block material and 109-112 cents/lb for package material.
Major Mexico EPS producers are Polioles and Polidesa.
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