Buying interest for Polystyrene remained subdued as upstream SM prices continued to fall this week by almost 50 dollars. Buyers prefer to wait in the sidelines on expectation of price correction, while suppliers seem unwilling to down-adjust their notional offers. Sellers seem unwilling to down-adjust prices from levels of US$1500/mt CFR HongKong, as they have to cover up high production cost of feedstock procured above US$1,350/mt FOB Korea
ABS offers for July continued at levels of US$1,690-1,720/mt CFR China, despite falling feedstock SM and butadiene prices. Offers for S.Korean cargoes were indicated at level of US$1700-1720/mt CFR CMP. Buyer sentiments remained soft on account of falling raw material costs.
15-Jun-07 
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