Venezuela PS prices remain steady in January

17 January 2014 23:43 Source:ICIS News

HOUSTON (ICIS)--Estizulia, Venezuela’s sole polystyrene (PS) producer has kept prices steady for all grades of the resin in January, a transformer said on Friday.

General purpose polystyrene (GPPS) prices are currently at $4,046-4,063/tonne FOT (free on truck) while high impact polystyrene (HIPS) prices are at $4,425-4,442/tonne FOT, according to ICIS data.

Supply of PS resins has been normal during the past two months, the transformer said.

Transformers contend that they are not receiving as much material as they order, and this may be related to the opening of new PS converting plants in the region.

The local producer depends on Pequiven for feedstock and there are some uncertainties in the near future.

Venezuela has been swept by rumours of a possible currency devaluation, which has not materialised.

Transformers wonder if the next import of product will be possible at the official rate of bolivares (Bs)6.30 per dollar.

The government is not giving authorisation for PS imports to anyone, adding to the uncertainty in costs.

By George Martin