Asian PS - Prices fall by $10-40/mt due to lower upstream
demand- Lower
import requirements due to
weaker domestic China prices- Higher
inventory lowers the operation rateAsian polystyrene market prices dropped by
$10-40/mt over the week of July 27th, due to lower upstream styrene monomer
prices and weak downstream demand. Due
to volatile upstream SM price movements, downstream PS trade volume remained
low. Sources suggested that downstream
demand might rise following the fall in SM prices. According to market participants, the PS operation rates
were lower because of high inventory and slow volume sales. According to sources, the expandable polystyrene industry
trend is declining due to sluggish demand from Vietnam. They also said that
downstream import volumes almost doubled in 2021, which made downstream
inventory record-breaking high. Sources
said that the demand for packaging has suffered a lot...