Asian Polystyrene - Rises between $10-20/mt, depending on
the firmer source■ China's high domestic supply and inventory■ Low Demand for Imported Cargoes





Despite the decline in upstream styrene,
Asian polystyrene saw an increase of $10-20/mt in demand on June 1. General-purpose
polystyrene CFR China's price rose $15-20/mt each week to $1,460-1,500/mt. High-impact polystyrene CFR China increased from $10-15/mt
to $1,540-1,575/mt during the same period. The large gap between domestic China's prices and import
cargoes was slowing trade momentum. Due to
high domestic supply and low inventories at downstream facilities, buyers opted
to wait and watch. Sellers also refused to
take offers. Despite receiving more offers
during the week, GPPS was still less likely than others to accept import
cargoes. One supplier mentioned the
difficulty in selling to China due to lower domestic prices. Exports were being sought by the market...