Asian PS. Falls $10-$65/mt during bearish marketChina exports GPPS, but import interest is mutedSoutheast supports #EPS exportsAsia demand Despite the daily recovery in feedstock
monomer prices, the Asia polystyrene markets saw a decline in demand across all
grades. Some buyers
waited until May 16 to buy, despite the volatile crude oil prices. However,
buying indicators remained low. Due to the
low domestic demand and ample supply, buyers were not interested in purchasing
general-purpose polystyrene material imports. The buying interest was further
dampened by the weakening dollar/yuan exchange rates. China exported GPPS despite the open arbitrage. A FOB China
offer was heard at $1450/mt- $1470/mt. Similar
circumstances were also heard in the expandable polystyrene (GPPS) market. This
was due to low demand in China. However, the export market was supported by
demand recovery in Europe and later,...