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Prices of polystyrene in the Middle East to decline

June 20/2011

(ICIS) -- Prices of polystyrene (PS) in the Middle East have declined during the regions peak demand season from late April to June this year, market sources said on Monday. 


A trader in Jordan said the political unrest in Syria has dampened business dealings in the region, causing the poor performance of downstream businesses.


Another east Mediterranean-based trader said the polymers market has weakened, which is causing the market to become bearish. Buyers are withholding their bids, forcing PS producers and/or sellers to reduce their offers.


Cargoes of general purpose PS (GPPS) for loading in June were heard to be traded at USD 1.590-1.630/tonne (EUR 1.113-1.141/tonne) CFR (cost & freight) east Mediterranean (MED)/Gulf Cooperation Council (GCC) on 17 June, while those in the Iranian market were assessed at USD 1.550-1.600/tonne CFR Iran 17 June because of lower buying and selling indications, according to ICIS.


Small parcels of high impact PS (HIPS) for delivery in June were heard to be traded at USD 1.800-1.850/tonne CFR east MED/GCC. The prices of HIPS in Iran were assessed at USD 1.740-1.800/tonne CFR Iran on 17 June because of lower buying and selling indications.


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