High Styrene cost keeps PS prices high in India; PS buying momentum likely to strengthen in the coming days

26 July: Prices of GPPS and HIPS have remained high in India due to cost of the principal feedstock--Styrene--remaining costlier in international markets. The latest GPPS and HIPS prices in the major markets in the country were at around Rs 145 a kg and Rs 150 a kg respectively, which are clearly high to impart severe raw material cost pressure on PS item manufacturers in the country. In the context of the prevailing PS prices at high rates, an official of an Indian PS producer told the website," The underlying reason for GPPS and HIPS prices prevailing at high rates in India is Styrene becoming costlier in the international markets." He further said," The depreciation of the INR against the USD also compounded to Styrene price pressure, resulting in inflation of PS prices in India." 
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