Asian PS: Falling on tepid Demand, Weaker Upstream
Styrene Monomer- GPPS China drops $95-100/mt in
a week- Tepid demand in the upstream SM
depresses pricesFOB China cargoes were offered at around
$1,170-$1,180/mt. Domestic prices fell by 300-400 Yuan/mt before the holidays. Offers for FOB China cargoes were heard-around
$1,170-$1,180/mt, whereas domestic price levels were-heard to fall Yuan
300-400/mt from before the holidays.-The fall this week closes the gap between
the CFR China-assessment and domestic price levels on an import-parity basis-to
around $80-$100/mt.- "Some customers are demanding lower prices given
crude oil-and styrene monomer's sharp fall in the previous weeks," said
a-producer.-Polystyrene exports from China were also heard to continue-to
destinations like India and Turkey, as the market was heard to-be increasingly
long amid new capacity additions.-Weakness in the upstream styrene monomer
markets-continue to...