24 July 2013 08:55 [Source: ICIS news]
SINGAPORE (ICIS)--Philippines’ DFE Chemical is running its 30,000 tonne/year polystyrene (PS) unit in Manila at around 60% of capacity after restarting the facility in mid-July, company source said on Wednesday.
The plant was shut in early July for a turnaround.
However, the recent escalation in feedstock styrene monomer (SM) prices to around $1,850/tonne (€1,406/tonne) CFR (cost & freight) China has caused pricing difficulties for PS resin makers.
“We are working with customers to see how much higher PS prices are acceptable,” the source added.
Record high PS prices at above $1,900/tonne CFR Asia has prompted a number of producers in the region to scale back production.
Buying resistance has grown and producers are increasingly concerned with being stuck with high-priced resins should SM prices correct sharply.
PS is used in packaging, disposable consumer items, toys as well as consumer electronics.
($1 = €0.76)
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