- Weak downstream prices force polystyrene- Uncertain outlook caused by
global inflation





Due to weak downstream demand and low
upstream prices, Asian polystyrene prices dropped $30-35/mt. Inflation was causing shrinkage in both export
and domestic orders globally as global demand for final products is slowing.
This was mainly due to the decline in demand, especially in China and Southeast
Asia. Sources claim that China's SM price is the
lowest worldwide, but domestic China PS producers are benefiting from lower
feedstock costs. This is due to the expansion of upstream styrene monomer
production in China. Domestic PS prices are therefore lower than
international ones. General-Purpose PS prices in China were heard at
Yuan 10,850-11.050/mt (June 29), or $1,345-$1,370/mt; this is lower than the
$1,550-1,580/mt CFR China offers. However, Asian PS prices fell due to
weaker upstream...