Sluggish demand conditions for PS have insulated the price for the polymer from any upward movements in polymer markets in India. Demand for the Styrene-based polymer has been in dull during the last few days, primarily on account of end-user industries slowing down, leading to lessening off-takes. A Delhi-based trader told Indianpetrochem in the context," Sales of PS are weak as end-user industries are slowing." He further said," There is no prospect for PS price going up. The price is most likely to go down."
Taking into account, the prevailing feedstock supply situation, PS price is likely to go down in India. The principal feedstock--Styrene--is undergoing an over-supply situation in the Asian markets, resulting in the price of the feedstock going down in Asian markets. As a matter of fact, India is devoid of any Styrene plant, and the entire demand in the country has, thus, to be catered to through imports.
Besides, demand for Styrene from ABS manufacturers in India is also not likely to strengthen due to demand for their product weakening.
By Indu Bhusan Nath
ibnath@indianpetrochem.com
Taking into account, the prevailing feedstock supply situation, PS price is likely to go down in India. The principal feedstock--Styrene--is undergoing an over-supply situation in the Asian markets, resulting in the price of the feedstock going down in Asian markets. As a matter of fact, India is devoid of any Styrene plant, and the entire demand in the country has, thus, to be catered to through imports.
Besides, demand for Styrene from ABS manufacturers in India is also not likely to strengthen due to demand for their product weakening.
By Indu Bhusan Nath
ibnath@indianpetrochem.com
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