Asian PS: Prices decline on week tracking styrene prices■ Asian PS Prices were lower because of lower styrene prices■ Producers resisting further price reductionsSpot discussion in the PS export market
remained muted due to a wide gap between buying and selling indications.
Producers are also facing higher costs. India heard about buying interests at lower prices than what
sellers would be willing to sell. A
producer in the general-purpose polystyrene markets (GPPS) stated that the
monthly average demand for this month is lower than the yearly average. According to market participants, they were pessimistic
about the fourth quarter due to a lack of buyers worldwide. At $1500/mt CFR Southeast Asia, buyers indicated they were
looking for sellers. The situation in the
high-impact polystyrene markets (HIPS) was similar to GPPS markets but with
more muted discussions. Due to uncertain
economic...