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(ICIS) -- The Asian styrene monomer (SM)
market will remain under pressure for the rest of the year as a result of
persistently weak demand in the region, producers and traders said on
Thursday.
Spot prices for October and November parcels slipped below USD
1,450/tonne (EUR 1,059/tonne) CFR (cost & freight) China this week, compared
with prices at above USD 1,500/tonne CFR China a month ago, according to ICIS
data.
Demand from the downstream styrenics sector is weak, although China’s
manufacturing season for exports typically lasts for three months until the end
of September each year.
The ongoing debt crisis in the eurozone and the weak economic outlook in
the US has dampened demand for China-made products. At the same time, tightened
credit conditions in China have also curbed domestic demand for resins.
The outlook for the SM market remains weak, given that the fourth quarter
is an off-peak season for styrenic resins. Therefore, most players are cautious
about the near-term outlook. Prices in the region are weak despite the tight
supply conditions in the Asian market.
mrcplast.com
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