Demand incompetent, Asian PS price decrease

  Last week, the cost of styrene fell to the lowest in April. Asian PS (polystyrene recycling) market trends decline. Market analysts pointed out that sluggish market demand and desolate environment in addition to the upstream raw material costs is another important reason for causing the decline of Asian PS prices. At present, the GPPS from Far East exporting to China(general purpose polystyrene) and HIPS (high impact polystyrene) had fell $ 10-15 per ton compared with the previous price. Upstream, FOB Korea and CFR China Styrene spot price both fell down about $ 20 / ton.

  A local trader complained that trading atmosphere in the local region has been going on for many months remain at low ebb. "Due to the current weak market demand, we have no confidence in PS is the future trend. Recent styrene prices continued lower, which dragged down the market price largely. Compared with GPPS, HIPS market is even worse. In the next few days, HIPS will may face a new round of price-cutting frenzy.

  Insiders said that the current Southeast Asian PS market is also facing the same dilemma. Last week, the country's import GPPS fell $ 35-50 per ton compared with the previous offer, while HIPS decline $ 5-30 / ton.