Asian PS - Prices rise in line to movements in styrene■ Spot discussion in the export market muted■ Asia's weakest demandSpot negotiations remained muted in export
markets due to a wide gap between buying and selling indications. Sellers were
reluctant to lower prices because of higher upstream styrene costs. A producer in the
general-purpose polystyrene markets stated that Asia's weak buying interest is
a major problem. Stronger upstream prices are also affecting profitability. Another producer stated that it was difficult to set a fixed
price for buyers due to recent volatility in styrene markets. According to some producers, they offered $1,300/mt CFR
China, and $1,450/mt CFR Southeast Asia. HIPS
markets were similar to GPPS markets, with a wide variety of buyers' and
sellers’ indications. Due to low demand,
sellers were having difficulty passing on high production costs to...