Asian PS - Slumps $30-35/mt for sluggish
need■ Weak downstream prices put pressure on
polystyrene■ Uncertain outlook because of global
inflationDue to weak downstream demand
and low upstream prices, Asian polystyrene prices dropped by $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,
while China's domestic PS producers are benefitting from lower feedstock
prices. 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...