GPPS

GPPS prices slipped to US$1420/MT on restrained demand in Asia, particularly from China in the week of January 28, 2008. The approaching Lunar New Year holiday has kept buying intentions from China low. Attempting to keep sagging end user demand alive, sellers have been coerced to offer a reduction in HIPS as well as GPPS prices. In a bid to cope with reduced demand, polystyrene producers have had to cutback on nameplate capacity to reduced stock piles. Market sentiments are estimated to be optimistic when the players return from Lunar Holiday break.

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