Asian PS: Drops $30-$40/mt on weak upstream, poor demand- Weaker China domestic markets- Lowering upstream costsThe Asian polystyrene market prices fell
$30-40/mt during the week ending July 20, due to lower upstream styrene monomer
prices and a pessimistic sentiment downstream. Following the SM market,
Asian PS offers trended downward. High-impact
PS offers were heard between $1,450 and $1,550/mt CFR China. This was down
$30-$50/mt over the week. The buying indication was $1,350-1,380/mt. The weakening acrylonitrile-butadiene-styrene prices also
pressured HIPS while ABS is considered a more premium alternative product,
sources said. The ABS prices fell from $30-35/mt
over the week to $1,510-1,540/mt on July 20. In
light of global inflation, the falling PS prices were also indicative of bearish sentiment in the downstream final product sector. Due to domestic Chinese prices being relatively low, import
inquiries for...