Demand sluggish ahead of China holiday
Trading activity muted upstream for SM
Asian general purpose polystyrene fell $5/mt from last Friday to $1,275/mt CFR China and $1,295/mt CFR Southeast Asia Friday, while high-impact polystyrene fell $5/mt over the same period to $1,345/mt CFR China and $1,360/mt CFR Southeast Asia, amid sluggish demand ahead of the holiday in China. Expandable polystyrene was unchanged from last Friday at $1,210/mt FOB Northeast Asia for general purpose and $1,265/mt FOB Northeast Asia for flame retardant. There was little fundamental change seen from last week, with buying interest subdued ahead of the Labor Day holiday in China and with the Japanese market already on holiday. “There’s barely any deal concluded this week; inquiries from customers are also limited,” a producer said. Demand from Southeast Asia had been strong earlier but was now muted ahead of Ramadan, a PS producer source said. End-users were opting to wait-and-see instead of stocking up before the break, which was contrary to past years, a trader noted. Trading has also been muted in the feedstock styrene monomer market, which rose $2/mt on the week to $1,078/mt CFR China, tracking the recent strength in crude.
General purpose polystyrene was assessed down $5/mt from last Friday at $1,275/mt CFR China and $1,295/mt CFR Southeast Asia Friday, maintaining the spread between the two markers. High-impact polystyrene was assessed down $5/mt over the same period at $1,345/mt CFR China and $1,360/mt CFR Southeast Asia. Expandable polystyrene FOB Northeast Asia was assessed flat from last Friday at $1,210/mt for general purpose grades, based on a tradable indication heard at that level, and at $1,265/mt for flame retardant grade, maintaining the price spread between the trades.