GPPS

GPPS prices in Asia spiked to US$1455/MT in the week of March 10, 2008 as higher feedstock SM prices continue at robust levels. Faced with rising cost pressures, offers from major suppliers from South Korea and Taiwan for March were heard at US$1490/MT CFR China. In China, the producers are in a dual mode : downstream users have been restricted by cost pressure, tight cash flow and power supply shortage, whereas the producers have benefited from appreciation of the RMB currency against the US dollar, opening up avenues for accepting export orders.