GPPS

Lackluster market sentiments kept GPPS prices stagnant at US$1440/MT in Asia in the week of March 3, 2008. The market was almost immobile, as sellers offers pegged at US$1470/MT were met with lukewarm response by buying intentions at lower level. Demand from China has not recovered post-lunar holiday period. This dull demand has kept buyers willing to wait and watch, notwithstanding higher upstream SM prices. As a result, producers from Asia plan to increase cargoes to outside the continent.