The price for Polystyrene has been bearish in the Asian markets due to lackluster demand and stifled performance in the upstream sector, specifically Styrene Monomer. This has affected Indian markets as cheaper imports has put a downward price pressure for the polymer in the country. Indianpetrochem reviewed the market sentiment for the polymers amongst traders in Mumbai.
As a result of falling Asian prices, the import price for the polymer has declined in the Indian market. In line with this, the price of Polystyrene from domestic manufacturers also declined in India.
The price for High Impact Poly Styrene (HIPS) and General Purpose Poly styrene (GPPS) declined from highs of Rs. 156 per kg and Rs. 150 per kg in the second week of February to current price range of Rs. 150- 152 and Rs. 143- 145 per kg, respectively in the Mumbai market.
"Despite the price decline, the demand for PS has been moderate in the Mumbai market", a trader told the website. He went on to add that most traders in the market are trying to build their stock inventories at these prices, despite the satisfactory demand conditions.
"The demand is expected to gain momentum at the end of the financial year", another Mumbai based trader told the website.
As a result of falling Asian prices, the import price for the polymer has declined in the Indian market. In line with this, the price of Polystyrene from domestic manufacturers also declined in India.
The price for High Impact Poly Styrene (HIPS) and General Purpose Poly styrene (GPPS) declined from highs of Rs. 156 per kg and Rs. 150 per kg in the second week of February to current price range of Rs. 150- 152 and Rs. 143- 145 per kg, respectively in the Mumbai market.
"Despite the price decline, the demand for PS has been moderate in the Mumbai market", a trader told the website. He went on to add that most traders in the market are trying to build their stock inventories at these prices, despite the satisfactory demand conditions.
"The demand is expected to gain momentum at the end of the financial year", another Mumbai based trader told the website.
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