Demand for Polystyrene continues to be dismal in Asia, leading to mounting sales pressure that have caused prices to dip. Most CFR China offers for GPPS sank to US$1650/MT, as sellers cut offers in an attempt to liquidate cargoes. Most deals were heard concluded at least twenty to thirty dollars lower on buyers disinterest. Higher cost pressures did however, maintain few CFR China offers at US$1680/MT levels.
On the supply side, several styrene monomer plants across Asia have cutback on operating rates.
The recently restarted Styrindo Mono Indonesia (SMI)'s 100,000 tpa SM plant is operating at 80-90% capacity. South Korea's Lotte-Daesan Petrochemical Corp.'s 500,000 tpa plant is running at 95% capacity, planned to get trimmed down by an additional 15%. S. Korean YNCC's 285,000 tpa plant is also running at 85% capacity.
25-Aug-08 
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