Despite moderate to weak demand for General Purpose Polystyrene (GPPS) from most end user industries, the price of the polymer has been on the rise in domestic markets due to short supply from domestic producer. Supreme Petrochem has ceased its manufacturing unit for Polystyrene (PS) due to unavailability of Styrene, while limited imports are available in the market.
Indianpetrochem spoke to an official from Supreme Petrochem, which has installed capacity of 2,72,000 metric tonne per annum for PS, and understood that the company hasn't been releasing its products in the open market as its manufacturing facility is shutdown due to non- availability of Styrene.
However, the website also spoke to LG Polymer India (LGPI), which has installed capacity of 1,00,000 metric tonne per annum for PS, and gathered that feedstock non availability isn't an issue with the company, as such the companies stock are available in the open market.
Additionally, LGPI did an upward price revision for PS material as a consequence of volatility in exchange rate and hike in feedstock price, Styrene.
Overall, as a consequence of domestic short-supply the open market price of GPPS and HIPS moved from a trading range of Rs 136 per kg and Rs 140 perkg to Rs 139 per kgand Rs 144 perkg, respectively, within the past few week.
(This article was published on the website on August 05, 2014)
Indianpetrochem spoke to an official from Supreme Petrochem, which has installed capacity of 2,72,000 metric tonne per annum for PS, and understood that the company hasn't been releasing its products in the open market as its manufacturing facility is shutdown due to non- availability of Styrene.
However, the website also spoke to LG Polymer India (LGPI), which has installed capacity of 1,00,000 metric tonne per annum for PS, and gathered that feedstock non availability isn't an issue with the company, as such the companies stock are available in the open market.
Additionally, LGPI did an upward price revision for PS material as a consequence of volatility in exchange rate and hike in feedstock price, Styrene.
Overall, as a consequence of domestic short-supply the open market price of GPPS and HIPS moved from a trading range of Rs 136 per kg and Rs 140 perkg to Rs 139 per kgand Rs 144 perkg, respectively, within the past few week.
(This article was published on the website on August 05, 2014)
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