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PS prices in the Middle East to weaken in the coming weeks

August 22/2011

(ICIS) -- Prices of polystyrene (PS) in the Middle East are expected to weaken in the coming weeks on the back of poor demand and weakness in values of feedstock styrene monomer (SM) and polybutadiene rubber (BR), market sources said on Monday.

Spot prices of general purpose PS (GPPS) in the region were assessed at USD 1.650-1.700/tonne CFR (cost and freight) East Mediterranean (East Med)/GCC, while high impact PS (HIPS) were at USD 1.860-1.950/tonne CFR East Med/GCC on 19 August, unchanged from the previous week, according to ICIS.

SM prices, meanwhile, were at USD 1.490-1.520/tonne CFR China on 19 August, ICIS data showed. PS trades in the Middle East remained few as buyers shun current market offers coming from Asia, deeming them too high.

Tags:PS, styrene.
Category:General News
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