In the first half of the week, EPS prices were quoted at $1,520-1,540/tonne CFR (cost and freight) Asia, with some deals heard concluded.
Spot SM prices rose above $1,350/tonne CFR China this week, according to ICIS data.
“My supplier has withdrawn offers due to rising SM,” a southeast Asia-based distributor said.
EPS resins are used for packaging and insulation in buildings and roads.
While most suppliers wanted to increase resin prices to maintain a workable margin, a seasonal demand lull could derail any move to hike prices.
“Buying interest is flat as the year-end lull is here,” said a producer in Taiwan.
Nonetheless, market players expect producers to increase offers, while buyers continued to buy on a need-to basis.
Picture: A package containing a stapler. Expandable polystyrene (EPS) resins are used for packaging and insulation in buildings and roads. (Source: Monkey Business/REX/Shutterstock)