05 September 2013 23:13 [Source: ICIS news]
MEXICO CITY (ICIS)--Mexico’s domestic polystyrene (PS) producer Resirene will seek to increase prices for all grades by 3 cents/lb ($66/tonne, €50/tonne) in September, a company source said on Thursday.
Other producers have shown similar initiatives, but one has said that the increase for high impact polystyrene (HIPS) will only be 1 cent/lb.
This may end up being as much as producers will be able to get on HIPS, as they strive to preserve market share.
Weak demand for butadiene rubber (BR), a key raw material for HIPS, is causing the hike for this grade to be smaller.
PS demand has been soft in August, despite some pre-buying ahead of September increases.
Before the September hike, PS prices in Mexico are at $1,941-1,985/tonne FOT (free on truck) for general purpose polystyrene (GPPS), while HIPS prices are in the range of $2,138-2,205/tonne FOT, according to ICIS data.
($1 = €0.76)
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