Polystyrene prices weakened in Asian demand

    Polystyrene is colorless, transparent and colored freely, since the 1990s, China polystyrene demand and consumption is growing rapidly. But in recent years overseas demand have been reduced and prices also fell.

    According to reports, Bank of Cyprus imposed eurozone crisis fears spread rapidly and lead to weaker demand, making Asian polystyrene (PS) prices continue to maintain the decline, producers and traders said on Thursday. According to ICIS data, as of March 15 when Asian polystyrene spot prices have fallen to US $ 1,800 / tonne (US $ 1,386 / tonne) CFR China low, as traders continued to clear warehouse.

    Series of recent events in the United States and the euro zone had a serious impact on the market, increasing concerns about Asian demand for the production of goods, and like polystyrene resins demand reduction. Italy's election stalemate could lead to fiscal austerity, plus Cyprus crisis levy on bank deposits, or push the euro zone debt crisis could erupt again, the United States is also considered budget cuts could undermine the fragile economic recovery. Due to the above political factors, short-term demand uncertainty, some Asian traders choose to clean up inventory. Polystyrene recycling industry is a long road for producers and governments to go.